Corporate News
A fastjet airplane. PHOTO | FILE
By REUTERS
Fastjet Plc said on Thursday it expected to report a
trading loss and remain cash flow negative in 2016 as business in
Tanzania remained weak.
The African budget airline said load factor in Tanzania for
2015 was down 6.6 percentage points to 66.7 percent and revenues were
impacted by a weakening Tanzanian economy and political uncertainty in
the country.
Fastjet, which announced the departure of Chief
Executive Ed Winter in March, said it was in the advanced stage for
recruitment of a new CEO.
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