FASTJET In Talks To Sell Its Zimbabwean Operations
4 years agoThu, 28 Nov 2019 10:24:10 GMT
FastJet announced this Wednesday that it has engaged a consortium led by its biggest shareholder Solenta Aviation as it seeks to sell its Zimbabwean operations for $8 million in a bid to stay afloat.
According to Reuters, the airline’s shares plunged by 32% to a fresh record low after the announcement and it also revealed that if the restructuring plans do not work out by the end of February, it would not be able to continue trading.
The carrier said it was also in talks with some of its major shareholders to give the carrier money to stay alive as a company until 2021.