Share Name Share Symbol Market Type Share ISIN Share Description
Fastjet LSE:FJET London Ordinary Share GB00BWGCH354 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -2.41% 20.25p 20.00p 20.50p 21.00p 20.25p 20.75p 118,304 14:31:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 55.5 -53.4 -70.5 - 68.01

Fastjet Share Discussion Threads

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Has he gone yet?
Dr Charles Laurie, head of the Africa team at Verisk Maplecroft, believes that businesses in Zimbabwe will be feeling relief and "quiet euphoria" following the military takeover from President Robert Mugabe. He says that Zimbabwe's economy has been in a "paralytic state" for the last 10 years, waiting for the issue of succession to be resolved. Describing the "dire economic situation" in the country, Dr Laurie tells Wake Up to Money that the unemployment rate is a staggering 90% and that a large number of young Zimbabweans have to move to other countries to get work. He says that business operations in Zimbabwe will be saying "the first steps have been taken."
A travel advisory by Fastjet on Wednesday confirmed flights between South Africa and Zimbabwe and in-country are operating as per their normal schedule. "Yet‚ we highly recommend guests to allow extra time ahead of their flight for check-in and screening procedures‚ as those may take more time than usual‚" spokesman Hein Kaiser said. The airline operates four daily round trip flights between Harare and Johannesburg as well as three weekly flights between Johannesburg and Victoria Falls and nine weekly flights between Harare and Victoria Falls. Kaiser added: "Fastjet is continually monitoring the situation in Zimbabwe and will update its guests and the travel industry should circumstances change."
Good to be worried about Zimbabwe at this time. Flying planes is a very fixed cost business, if planes are grounded or flights disrupted the losses can mount up quickly especially when an airline has such few routes.
Sold my other half, will see how the coup in Zimbabwe plays out...
Genius comments...
An airline must not be a political football: Ex- SAA acting CEO If an airline ends up being used as a political football instead of being operated on business merits, that can be one of its biggest stumbling blocks, Nico Bezuidenhout, CEO of fastjet recently told Fin24. fastjet is listed on the London Stock Exchange - the only African airline listed there. According to Bezuidenhout that means it has access to capital for funding purposes. The top 5 shareholders have about £500bn under management. It also means the airline operates on European safety standards. He started at the helm of the low-cost African airline in August 2016 after twice being acting CEO of South African Airways (SAA) and CEO of its low-cost subsidiary Mango. During his time at Mango, Bezuidenhout grew the airline's market share to 25% of the SA domestic air travel market. Speaking of airlines in general, regardless of whether an airline is state-owned or privately owned, it is very important to have a distinction between management and ownership, according to Bezuidenhout. "The management of an airline must have a clear mandate, objectives and measurement in place. Management must also be appropriately capacitated by the shareholders," Bezuidenhout recently told Fin24. "In any business you will get what you pursue. For instance, if the business pursues capitalistic profit motives, it will get those types of outcomes. If a business pursues social motives, it will get that, but then not necessarily make profits." Capital deployed inefficiently Generally speaking, there is in his view too much capital being deployed inefficiently on the African continent. For instance, both private and public airlines are allowed to survive when there is "no right to survival, because revenue does not exceed cost". He said a lot of the cracks already identified at SAA in its turnaround strategy of 2012/13 are still at play. If he had carte blanche at SAA he would, for instance, fix the aircraft equipment to make sure the aircraft are fit for the job. He would use the airline's assets effectively, including on the human resource side. Efficiency is also essential regarding supplies to the airline. "Often state-owned companies don't get the best bang for their buck. One just needs normal negotiation skills. We negotiated the best prices for Mango. Just because it is state-owned does not mean one must not get the best prices," he explained. In his view, it will always be difficult for a flag carrier airline at the southern tip of Africa. "This does not mean it cannot be resilient. It just means one has to take that variable into account when designing a flag carrier, for instance, how big it can be," explained Bezuidenhout. "Just because one cannot sustain trying to have one of the biggest flag carriers in the world, it does not mean you cannot have a sustainable flag carrier in southern Africa. The only dictate should be that owners should be owners and managers should be managers and both should be good at what they do or they should not be there." fastjet When Bezuidenhout started at fastjet the airline was in severe financial distress. Over the past 12 months a turnaround plan was implemented. It entailed changes to the route network, fleet and human resource component. The headquarters was also changed from the UK to Johannesburg, reducing overhead costs by 40%. Furthermore, there was a moved to smaller aircraft. Overall costs were reduced by 46% and unit revenue for the first half of the year is up 30%, while losses over the same period was down by 56%. Tanzania is still the airline's biggest market, where fastjet has a more than 80% market share on routes it operates. On the Johannesburg/Harare route the airline has about 20% to 30% market share. "A lot of what we did last year was about stabilising the business. Now we are on track to have cash flow break even for the last quarter of 2017 and we can look at growing," said Bezuidenhout. Its latest venture was launched in Mozambique last week. It also has an agreement with private airline Federal Air by which the fastjet brand will be introduced into SA. African aviation Fin24 asked Bezuidenhout why investors would choose African aviation. He explained that the continent has all the ingredients for growth in the aviation industry. The continent has about 30% of the mineral resources of the world, about 20% of the global land mass, about 15% of the world's population, yet only 3% of the global aviation industry. "Poor road and rail infrastructure on the continent means it lends itself to aviation. There is no denying the correlation between aviation growth and economic growth in any economy. The International Air Transport Association (Iata) also says some of the fastest growing aviation economies are in Africa," said Bezuidenhout. Challenges holding growth in the aviation industry back on the continent include the regulatory environment, too many inefficient suppliers and bilateral constraints.
Halved my position here (at a 50% loss), money needed elsewhere. They have a lot more work to do, to justify the market cap.Still love the story, and I think they can get there with the new team...
Warrants at 31.5p, I'd sell them a few...
fastjet Mozambique commenced operations from Maputo on 3 November with domestic routes to Beira, Nampula and Tete, all flown on its sole ERJ 145, seen pictured here at the nation’s capital city airport the evening before the inaugural flight. With its launch, fastjet Mozambique breaks LAM Mozambique Airlines’ domestic market monopoly. fastjet Mozambique commenced its first operations from Maputo (MPM) on 3 November, starting domestic links to Beira (BEW), Nampula (APL) and Tete (TET). The airline will operate the routes using its sole ERJ 145, with all three services going head-to-head with LAM Mozambique Airlines, currently the only carrier offering domestic services in Mozambique. The latter carrier already operates the three sectors launched by fastjet Mozambique, with it offering 18 weekly flights on the 721-kilometre link to Beira, 13 on the 1,389-kilometre sector to Nampula, and eight on the 1,096-kilometre city pairing with Tete. fastjet Mozambique will provide nine weekly flights to Beira, a daily rotation to Nampula, and four weekly services to Tete.
It's the £100m market cap I can't get my head around?
A sell recommendation if ever I saw one.
Ambitious price target there. It would be more ambitious if the share price was 10p.
dodge city
Broker Forecast - Liberum Capital issues a broker note on Fastjet PLC By BFN News | 08:30 AM | Monday 23 October, 2017 Factsheet Fastjet PLC Ord 1P (FJET) Liberum Capital today reaffirms its buy investment rating on Fastjet PLC (LON:FJET) and set its price target at 25p
Am I correct in thinking the market cap is £113m as of tomorrow then?
Witnessing the birth of an airline... after several stalled attempts
Dar es Salaam.11/10/2017 Fastjet’s first Embraer E190 is arriving this week as the budget airline minimizes costs to operate profitably, the company has announced. “The new, modern aircraft arrives in Tanzania this week and will await regulatory approvals after which its launch flight will take place,” the airline said in a statement yesterday. The Embraer E190 replaces the Airbus A319 which has now gone out of service. The second Embraer E190 is expected toward mid-November. Fastjet believes that switching to a small aircraft, which uses less fuel and has a better maintenance interval, was a key part of the airline’s turnaround strategy. The company announced last year that it would sell its wholly-owned Airbus A319 as part of important step in stabilization plan and a move towards a more appropriate size of fleet. The Embraer E190 jet is a modern aircraft which is able to fly at high altitude for greater efficiency and passenger comfort. He said Fastjet was committed to simplifying air travel by making it easy for customers to access low fares. In-between the first flight of the new aircraft and the exit of the old, Fastjet will be flying an interim schedule that impacts flights between Mbeya and Dar es Salaam. In addition, Fastjet has also launched a plan to greatly improve its customer service.
The birth of an be continued.. From Professor Thomes blog: FASTJET TANZANIA BIDS FAREWELL TO THEIR LAST #AIRBUS #A319 AS FIRST EMBRAER JOINS FLEET (Posted 09th October 2017) Fastjet Tanzania has confirmed that their last Airbus A319 will be leaving the fleet shortly, to be replaced with more cost effective and right sized Embraer E190 aircraft.The first of two Embraers is due to arrive in Tanzania this week while a sister ship is expected by mid November this year. Due to the phasing out of the A319 will a provisional schedule be operated until both Embraer aircraft are flying. The departure of the A319 marks and end of an era as Fastjet commenced operations with this aircraft type and expanded the fleet in Tanzania and Zimbabwe to 5 such planes before eventually starting a phase out while procuring smaller aircraft, easier to fill and cheaper to fly. ‘We are really looking forward to welcoming the new Embraer E190 aircraft‘ said Fastjet Tanzania spokesperson Lucy Mbogoro before adding: ‘It is modern, comfortable and very reliable. As our new fleet rolls out along with our improved customer service plans, fastjet plans to remain Tanzania’s most punctual airline as well as fulfilling its ideal as the airline for everyone‘. Mbogoro also commented that Fastjet intends to reclaim its position as one of the continent’s most on-time airlines following the recent cancellations due to technical challenges. Part of Fastjet’s new customer service approach includes email surveys for suggestions and feedback from all passengers, improved Facebook, Twitter and Instagram response times as well as on-board and airport service standards. Said again Lucy Mbogoro: ‘It is important that we are there for our customers every step of the way. That we listen and engage. Our passengers in Tanzania are very important to us and the Asante Tanzania campaign is the first step for us in thanking everyone for five years of support, and for a future, together. While we have had to move our schedule around a little bit, with Mbeya flights unfortunately impacted for a couple of weeks, Tanzania has brand new jets to look forward to and the E190’s will be well worth the wait‘ said Mbogoro. Flights between Mbeya and Dar es Salaam are expected to resume at the end of October, operated by the new Embraer E190 aircraft, and timed with the full launch of Fastjet’s Asante Tanzania campaign and customer service refresh.
I think they can circumvent that in some cases, say another placing, rather than purchasing shares in the open market...
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