30-Apr-2014 11:05 AM

fastjet to restructure Fly540 operations in Angola and Ghana

fastjet confirmed (29-Apr-2014) plans to restructure Fly540 Angola and Fly540 Ghana, which are currently loss-making, with the aim of increasing shareholder value. The company temporarily suspended operations in Angola and will continue to operate in Ghana with one leased aircraft. Angolan operations will resume following the return of two leased aircraft currently undergoing maintenance. The company is in the processes of selling two group-owned ATR aircraft which were removed from service in Angola and Ghana. In the short term, fastjet intends to focus on opportunities in Eastern and Southern Africa by establishing bases in Zambia, Kenya and South Africa. Launching its low cost model in Angola and Ghana remains a part of fastjet's long term plans. [more - original PR]

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