Fastjet Share Discussion Threads

[still waiting] 27/11/2019 15:27

thanks zen, so enough income to just about cover bod fees and listing costs.

[zen12] 27/11/2019 15:18

Worked sell all day just gone through..that should be the seller out!

[zen12] 27/11/2019 15:12

So remaining business minus loss making FJet Zimbabwe would be:- FedAir business, the fastjet Brand and fastjet Africa (which incorporates the fastjet Central Systems business unit) and which also owns fastjet Mozambique. - Fixed income / revenue from providing contract airline management services to the new proposed consortium buyer - Fastjet Zimbabwe - New Group would become capital light business operating as a franchise house that would earn revenues through the fastjet brand and providing airline management solutions.

[zen12] 27/11/2019 15:01

Read RNS - it's all there. It makes sense to get rid of the loss making business.Upon completion of the restructuring, the Group would then consist of the FedAir business, the fastjet Brand and fastjet Africa (which incorporates the fastjet Central Systems business unit) and which also owns fastjet Mozambique. The Group would be contracted by fastjet Zimbabwe to continue providing the fastjet brand and airline management services.The restructured Group would become a capital light business operating as a franchise house that would earn revenues through the fastjet brand and providing airline management solutions, whilst also continuing to hold its investment in the FedAir business.

[still waiting] 27/11/2019 14:57

what business is left after all this ?

14m m cap. really ?

[zen12] 27/11/2019 14:49

Yes, but you've missed the key point! They are also relieving FJET of liabilities and expenses of of around $8.7m, so 8 + 8.7 = $17.4m + Options to buy back.Looks like a good deal and will secure future funding for next couple of year!

[login] 27/11/2019 13:49

The new fastjet is just the directors passing round their christmas box now their salaries are in jepardy

[bmk1] 27/11/2019 13:17

The capital received from the Disposal would be utilised to settle the remaining current Group liabilities and for future working capital within the Group providing sufficient funding into FY2021. Upon completion of the restructuring, the Group would then consist of the FedAir business, the fastjet Brand and fastjet Africa (which incorporates the fastjet Central Systems business unit) and which also owns fastjet Mozambique. The Group would be contracted by fastjet Zimbabwe to continue providing the fastjet brand and airline management services.

The restructured Group would become a capital light business operating as a franchise house that would earn revenues through the fastjet brand and providing airline management solutions, whilst also continuing to hold its investment in the FedAir business.

[bmk1] 27/11/2019 13:17

The Disposal would be made in receipt of a consideration of approximately US$8m from a consortium that would be led and underwritten by Solenta Aviation Holdings Limited (c. 60% shareholder in fastjet Plc today) and additionally by other local investors in Zimbabwe (the "Investor Consortium"). The Disposal would also relieve the Group of c.US$5.4m of current liabilities and c.US$3.2m of future aircraft capital expenditure which will be raised and funded by the new Investor Consortium directly. In addition, the Group would be granted an option to buy back its shareholding in fastjet Zimbabwe on the same divestment economics to which it would be sold, 3 to 5 years after the effective date of the sale.

[bmk1] 27/11/2019 13:15

selling the business for $8m circa 6m

and mcap £14m

and someone is saying good entry price


0.1p is coming

[pr100] 27/11/2019 13:15

So how to value the new Fastjet Plc - assuming it doesn't go into liquidation (which would appear to benefit its major shareholder). Is the following worth more than 50p a share?

"…the Group would then consist of the FedAir business, the fastjet Brand and fastjet Africa (which incorporates the fastjet Central Systems business unit) and which also owns fastjet Mozambique. The Group would be contracted by fastjet Zimbabwe to continue providing the fastjet brand and airline management services.

The restructured Group would become a capital light business operating as a franchise house that would earn revenues through the fastjet brand and providing airline management solutions, whilst also continuing to hold its investment in the FedAir business. The Group's strategy is to focus on franchise and providing airline management solutions to additional airlines in Africa that are independently owned, enhancing its overall revenues from these."

Questions:

1. Is the Fastjet brand worth any more than the company paid for it?
2. How many potential customers for the brand franchise are there?
3. How much will Solenta pay to license the brand?
4. How much is the central systems business unit worth?
5. What other assets lie within Fastjet Africa and Fastjet Mozambique?
6. Do Fastjet Africa/Mozambique own any route licences?
7. What liabilities lie within Fastjet Africa and Fastjet Mozambique?
8. If Fastjet liquidate, will there be anything left over for shareholders?
9. Why no warning to shareholders about the value of their shares if liquidated?
10.Would a sane company buy Fastjet Zimbabwe back in 3-5 years?

[barnes4] 27/11/2019 13:03

The old pi always ends up picking up the tab

[sandy12345] 27/11/2019 12:55

Good entry point now imho!

[pr100] 26/11/2019 18:45

Delisting would be irrelevant given the illiquidity of the shares. Administration is possible but not indicated by the recent investment in new routes.

[tenapen] 26/11/2019 18:44

They announced a new route to SA only eleven days ago and so I can't see them going into administration so soon after !

Hope for the best but expect ......

I don't presently hold.

[1speedster] 26/11/2019 18:26

Most probably someone has got inside news of delisting or administration.

we could see sub 0.1p tomorrow morning.

[pr100] 26/11/2019 17:01

Maybe someone else getting Fastjet Tanzania's woes confused with Fastjet Plc?

As for the Plc, the closure of loss-making Mozambique was prudent while the launch of new Zimbabwe routes to Johannesburg is positive so I grabbed 2m today as a punt - even if there was an air traffic controllers strike in Harare today.

[jimmyloser] 26/11/2019 16:29

There she is - I have a nose for a dump!

[jimmyloser] 26/11/2019 16:25

Hopefully I am wrong but I smell a huge dump after the bell!

[pr100] 26/11/2019 14:52

Fastjet Tanzania is nothing to do with Fastjet Plc any more.

[pr100] 26/11/2019 14:12

A Fastjet plane was allegedly unable to get clearance to take off today so maybe they've been grounded.

[pr100] 26/11/2019 13:56

I suspect a management buy-out. The London listing may help their corporate credibility but it's long past its main raison d'être of finding cash...and it's expensive to maintain.