Ousted Fastjet CE says currency slide to blame for Africa woes
Fastjet CE Ed Winter, who is poised to leave the airline after clashing with investor Stelios Haji-Ioannou over mounting losses, said he still thinks the continent is on the cusp of a transformation into a viable aviation market. Without an unexpected slump in currencies spanning the South African rand to the Kenyan schilling, Fastjet would be making money and further down the road with its plan to become the first pan-African low-cost airline, Winter said Friday, his last day at the company. “You’d have a very different and far more optimistic situation,” the executive said. “I just think perhaps that’s delayed for a year as the economy improves. But you can’t say our model isn’t working. If the pound and euro had declined 30% then European airlines would be experiencing the same problems.” <br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2016-03-21/unaligned/ousted-fastjet-ce-says-currency-slide-to-blame-for-africa-woes
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Ousted Fastjet CE says currency slide to blame for Africa woes
Fastjet CE Ed Winter, who is poised to leave the airline after clashing with investor Stelios Haji-Ioannou over mounting losses, said he still thinks the continent is on the cusp of a transformation into a viable aviation market. Without an unexpected slump in currencies spanning the South African rand to the Kenyan schilling, Fastjet would be making money and further down the road with its plan to become the first pan-African low-cost airline, Winter said Friday, his last day at the company. “You’d have a very different and far more optimistic situation,” the executive said. “I just think perhaps that’s delayed for a year as the economy improves. But you can’t say our model isn’t working. If the pound and euro had declined 30% then European airlines would be experiencing the same problems.” <br/>
