Losses at Africa’s Fastjet Triple as New CEO Moves To Cut A319s | Aviation International News

Losses at Africa’s Fastjet Triple as New CEO Moves To Cut A319s

Three wet-leased Embraer E190s to replace pair of Airbuses

By Gregory Polek • Senior Editor

September 20, 2016

Pan-African low-fare airline Fastjet saw operating losses more than triple during the first six months of the year, the company reported Tuesday, revealing the scope of difficulty new CEO Nico Bezuidenhout faces in his task of orchestrating a turnaround. Fastjet’s losses increased compared with the same period a year earlier from $12.8 million to $31 million, even while revenues rose from $31.5 million to $33.1 million and passenger numbers increased 9 percent, to 398,593.

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