Data provided by iNet BFA
Loading...
See More

FastJet to raise $2.4m in share offer

Nov 12 2012 11:05 I-Net Bridge

Related Articles

Why 1time failed

Gigaba: State never gave Mango a bailout

Acsa blamed for 1time demise

Low cost airlines 'here to stay'

Comair: No funding from BA

Solidarity: British wanted to buy 1time

 
Johannesburg – African airline FastJet on Monday announced it was raising $2.4m by offering over 42 million new ordinary shares at a value of £0.035.

UK based industrial group Lonrho [JSE:LAF] owns a large stake in the airline.

“Following the announcement on 5th November 2012 of the completed FastJet branding and the launch of FastJet operations in Tanzania with three A319 aircraft‚ the company is now progressing with establishing the second hub location for FastJet in the continuing plan to build the FastJet network into the low cost carrier for all of Africa‚" said FastJet’s executive chairperson David Lenigas.

"These additional funds will be deployed in assessing an earlier than expected opportunity open to FastJet to interact with the Southern African market place and progressing with the opening of further operational hubs for the FastJet network across Africa‚" Lenigas explained.

At the completion of the share offer‚ Lonrho’s 67.4% shareholding in the airliner will be reduced to 65.8%.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

fastjet  |  low cost airlines
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Expanding your business requires capital and banks have stringent lending criteria in place.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...