Fastjet flags going concern doubt again as restructuring plan in jeopardy

Fastjet Plc on Monday warned again that it would not be able to continue as a going concern if the South African low-cost carrier could not carry out its restructuring proposal by the end of March due to a shortage of funds.

The company, which lost its turnaround specialist Chief Executive Officer Nico Bezuidenhout last year, is struggling to get funding for a restructuring of its business as talks with an investor consortium led by its biggest shareholder Solenta Aviation to sell its Zimbabwean operations are not yet finished.