Fastjet Group still trying to finalise sale of Zimbabwe operation

Fastjet Group believes it has sufficient resources to meet operational needs until the end of March, as it scrambles to finalise a deal to sell its Zimbabwe airline to investors. The company had previously warned, last November, that it faced a February deadline to secure additional funding, and had disclosed that it was discussing restructuring proposals including divestment of Fastjet Zimbabwe. Fastjet Group says an investor consortium led by Solenta Aviation Holdings is finalising due diligence work on the Zimbabwe operation and obtaining the necessary regulatory clearances. The consideration payable by the consortium has yet to be confirmed, and depends on further discussions and the extent of any other outstanding liabilities and costs. <br/>