"The Company Would Be Unable To Continue Trading Beyond 31 August 2020.” - Fastjet

3 years agoFri, 03 Jul 2020 12:38:01 GMT
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"The Company Would Be Unable To Continue Trading Beyond 31 August 2020.” - Fastjet

Fastjet Zimbabwe has on Friday hinted that it might be forced to suspend operations at the end of August due to the prevailing business environment.

The airline is at the moment only running limited repatriation flights from South Africa to Zimbabwe, about three times per month. The airline said:

If flight operations do not restart to sustainable levels by the beginning of September or the company is unable to access hard currency from the Reserve Bank of Zimbabwe through repayment against the company’s historical legacy loans, it will cease to be a going concern.

Therefore, in the event that the company is unable to find alternative solutions before 31 August 2020, then the directors believe the company would be unable to continue trading as a going concern beyond 31 August 2020.

Fastjet wants to resume routine commercial flight operations but requires the permission from the South African and Zimbabwean governments which closed their borders due to the Covid-19 pandemic.

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The transport and tourism sectors are among the hardest hit by the outbreak of the coronavirus since governments, globally, local and abroad travels were banned.

Stakeholders are urging authorities to find ways to weather the coronavirus storm or find ways to operate during a pandemic.

More: NewZiana



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