Fastjet nearly quadruples losses in 2018
Fastjet expects to post a US$41.2m operating loss for 2018, nearly 4 times its $11.2m prior-year loss, deepened by $23.9m in one-off impairments from its Dec 2018 capital increase. Fastjet said its full-year loss from continuing operations, excluding the exceptional items, would have been $17.3m. However, the company said it is on track to deliver “a marginal underlying operating profit” for 2019. “Despite the impact of cyclones in Mozambique at the start of the current year and continued fuel protests and currency volatility in Zimbabwe, Fastjet is making progress and expects to generate a marginal underlying operating profit for 2019, with further route expansion planned for Zimbabwe in the second half of the coming year, as well as a brand entry into South Africa in 2020,” the carrier said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-04-26/unaligned/fastjet-nearly-quadruples-losses-in-2018
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Fastjet nearly quadruples losses in 2018
Fastjet expects to post a US$41.2m operating loss for 2018, nearly 4 times its $11.2m prior-year loss, deepened by $23.9m in one-off impairments from its Dec 2018 capital increase. Fastjet said its full-year loss from continuing operations, excluding the exceptional items, would have been $17.3m. However, the company said it is on track to deliver “a marginal underlying operating profit” for 2019. “Despite the impact of cyclones in Mozambique at the start of the current year and continued fuel protests and currency volatility in Zimbabwe, Fastjet is making progress and expects to generate a marginal underlying operating profit for 2019, with further route expansion planned for Zimbabwe in the second half of the coming year, as well as a brand entry into South Africa in 2020,” the carrier said. <br/>
