Dr Charles Laurie, head of the Africa team at Verisk Maplecroft, believes that businesses in Zimbabwe will be feeling relief and "quiet euphoria" following the military takeover from President Robert Mugabe.
He says that Zimbabwe's economy has been in a "paralytic state" for the last 10 years, waiting for the issue of succession to be resolved.
Describing the "dire economic situation" in the country, Dr Laurie tells Wake Up to Money that the unemployment rate is a staggering 90% and that a large number of young Zimbabweans have to move to other countries to get work.
He says that business operations in Zimbabwe will be saying "the first steps have been taken."
A travel advisory by Fastjet on Wednesday confirmed flights between South Africa and Zimbabwe and in-country are operating as per their normal schedule.
"Yet we highly recommend guests to allow extra time ahead of their flight for check-in and screening procedures as those may take more time than usual" spokesman Hein Kaiser said.
The airline operates four daily round trip flights between Harare and Johannesburg as well as three weekly flights between Johannesburg and Victoria Falls and nine weekly flights between Harare and Victoria Falls.
Kaiser added: "Fastjet is continually monitoring the situation in Zimbabwe and will update its guests and the travel industry should circumstances change."
fastjet Mozambique commenced operations from Maputo on 3 November with domestic routes to Beira, Nampula and Tete, all flown on its sole ERJ 145, seen pictured here at the nations capital city airport the evening before the inaugural flight. With its launch, fastjet Mozambique breaks LAM Mozambique Airlines domestic market monopoly.
fastjet Mozambique commenced its first operations from Maputo (MPM) on 3 November, starting domestic links to Beira (BEW), Nampula (APL) and Tete (TET). The airline will operate the routes using its sole ERJ 145, with all three services going head-to-head with LAM Mozambique Airlines, currently the only carrier offering domestic services in Mozambique. The latter carrier already operates the three sectors launched by fastjet Mozambique, with it offering 18 weekly flights on the 721-kilometre link to Beira, 13 on the 1,389-kilometre sector to Nampula, and eight on the 1,096-kilometre city pairing with Tete. fastjet Mozambique will provide nine weekly flights to Beira, a daily rotation to Nampula, and four weekly services to Tete.
FASTJET TANZANIA BIDS FAREWELL TO THEIR LAST #AIRBUS #A319 AS FIRST EMBRAER JOINS FLEET
(Posted 09th October 2017)
Fastjet Tanzania has confirmed that their last Airbus A319 will be leaving the fleet shortly, to be replaced with more cost effective and right sized Embraer E190 aircraft.The first of two Embraers is due to arrive in Tanzania this week while a sister ship is expected by mid November this year.
Due to the phasing out of the A319 will a provisional schedule be operated until both Embraer aircraft are flying.
The departure of the A319 marks and end of an era as Fastjet commenced operations with this aircraft type and expanded the fleet in Tanzania and Zimbabwe to 5 such planes before eventually starting a phase out while procuring smaller aircraft, easier to fill and cheaper to fly.
We are really looking forward to welcoming the new Embraer E190 aircraft said Fastjet Tanzania spokesperson Lucy Mbogoro before adding: It is modern, comfortable and very reliable. As our new fleet rolls out along with our improved customer service plans, fastjet plans to remain Tanzanias most punctual airline as well as fulfilling its ideal as the airline for everyone.
Mbogoro also commented that Fastjet intends to reclaim its position as one of the continents most on-time airlines following the recent cancellations due to technical challenges.
Part of Fastjets new customer service approach includes email surveys for suggestions and feedback from all passengers, improved Facebook, Twitter and Instagram response times as well as on-board and airport service standards.
Said again Lucy Mbogoro: It is important that we are there for our customers every step of the way. That we listen and engage. Our passengers in Tanzania are very important to us and the Asante Tanzania campaign is the first step for us in thanking everyone for five years of support, and for a future, together. While we have had to move our schedule around a little bit, with Mbeya flights unfortunately impacted for a couple of weeks, Tanzania has brand new jets to look forward to and the E190s will be well worth the wait said Mbogoro.
Flights between Mbeya and Dar es Salaam are expected to resume at the end of October, operated by the new Embraer E190 aircraft, and timed with the full launch of Fastjets Asante Tanzania campaign and customer service refresh.
Did not notice the RNS @ 13.30 pm...Results of placing ( closed quickly ) they state it was 6.98% below Thursday close of 21.5p.
I see Liberum was main contractor.
looks like my sale was an hour after ... looks good for Monday .
Fastjet Tanzania registers a Solenta Aviation ERJ145
FLEET CHANGE UNDERWAY AT FASTJET TANZANIA
Information is coming in that Fastjet may add an ERJ145 jet aircraft to their fleet in Tanzania ahead of the introduction of two Embraer E190s before phasing out the too large and too expensive to fly Airbus A319, the last one remaining on the airlines fleet.
The ERJ145 is owned by Solenta Aviation in South Africa, which since early this year is one of Fastjets shareholders and has already seconded two of these jets to Fastjet Zimbabwe..
Fastjet launches new route between Harare and Lusaka as airline celebrates second year in Zimbabwe
fastjet will operate a new route between Harare and Lusaka, with the first flight scheduled for 13 November 2017. The additional route is the fifth Zimbabwean route for fastjet as the airline celebrates its second anniversary in the country and fifth brand birthday this year. Two weeks ago, fastjet also reintroduced its Victoria Falls Johannesburg route while adding additional flights between Harare and Johannesburg and Harare and Victoria Falls. Flights between Harare and Lusaka are already on sale at a launch fare from $80 all inclusive.
Fastjets new Summer 2017 schedule, including flights between Harare and Lusaka, is available at www.fastjet.com.
Fastjet becomes airline brand with largest Facebook following in Africa
fastjet this week became the airline with the largest Facebook community in Africa, passing the 1.1 million mark in the number of followers in its orbit. The airline recently reimagined its content strategy on the platform in line with consumer feedback and customer service with initial successes affirming the carriers leading position on social media amongst its peers.
A recent customer survey by fastjet indicated that Facebook remains the more popular method of engagement for its customers at a preference rate of 80% compared to Twitter and Instagram. Evidenced by its organic growth rate, Instagram is fast becoming more popular as an engagement platform while Twitters newsfeed-style remains a platform where price and special-offers are digested quickly and responded to fast. Over the past few years different social media platforms have become quite defined in shape and purpose, says fastjet spokesperson Hein Kaiser, and according to our customers Facebook remains the most popular channel to engage on all levels.
To this end fastjet have redefined the common and channel specific purpose of its social media presence. Customer service is an absolute priority with our response rate shortened from 55% over 2 days to 96% within an hour, says Kaiser. In addition, we have repurposed our content strategy to balance hard sales with engaging, more visual content and increased our posting frequency to match feedback. Twitter feeds have become a higher volume platform while Instagram and Facebook have a strong lifestyle element to content. Thus far the strategy seems to be effective with fastjets social reputation improving vastly.
Beyond customer service the carrier leverages its social media channels to drive network and destination awareness as well as communicating commercially. Our objective is to effectively manage social communities across all aspects of engagement; from consumer relevant content through to sales and special offers as well as customer service. As the airline grows, so it plans to develop its community to reflect the airlines growing pan-African footprint. Fastjet plans to touch the lives of everyone on the continent as we grow our brand into its ambition of being Africas pan-continental low-cost airline.
Social media is an animal of its own and the key lies in simplicity. Successful commercial campaigns have shown that the hard-sell is okay, but must be tempered with engaging content and reliable information. Brands need to be authentic and consumers will accept and engage on these mutually agreed, tacit terms, says Kaiser. Fastjet has been experimenting with pure organic growth and measuring its rate of attrition against its redefined community and content strategy. Our rate of attrition has reduced significantly while organic growth has enabled fastjets Facebook community to grow into pole position amongst its peers.
Revenue still has to grow substantially to cover operating costs and that to me could be some way off. Also we may need to raise further cash to fund losses over the coming year or so. It's getting better but we are not there yet.
July 7th 2017
Fastjet Zimbabwe later this month is introduce second Embraer ERJ145 aircraft to its operation, allowing the airline to expand and resume operational frequencies to South Africa, as well as domestic Zimbabwe service.
Planned new flights, effective from 31JUL17, as follow.
Johannesburg Harare Increase from 3 to 4 daily (From 2 to 3 daily on Saturdays)
FN8221 JNB0615 0750HRE ER4 6
FN8221 JNB0650 0825HRE ER4 x6
Regardles of whether whatever potential exists and whether it may or may ntr ever be realised this company is sure to need extra funding at some stage.
It is the curse of AIM for the private investor that will almost certainly mean signiifcant dilution for exisitng small shareholders who will see the value of their shares trashed if and when new placings are made with insitutional shareholders.
Sir Stelios Haji-Ioannou, the founder of African airline Fastjet, has made an easy $2.5m (£1.92m) after selling the companys name to it.
The high-profile easyJet founder had been earning a fee from the Johannesburg-based airline by licensing out the name but said the fair price he and the companys board had agreed was below what it would have paid to use the brand over the next five years.
Sir Stelios said he would still hold shares worth about £1.3m in the £55m market cap company and would remain a "supportive shareholder" willing to wait for the "significant upside potential" of the business
Any moves to save costs will be welcomed by investors who have suffered years of share price losses. The stock has dropped 99.6pc since August 2012, but rose 15pc after news of the deal with Sir Stelios to hover around 19p.
2017 has been a busy year for the company so far after it raised $28m from investors in January by placing 143m shares at the same time as signing up new shareholder Solenta to help stabilise the business.
Solenta, a specialist aviation group, provided Fastjet with three leased aircraft in return for a 28pc shareholding, making it the airlines largest stakeholder.
Management said today its efforts to rein in its overenthusiastic - and ultimately unsuccessful - expansion in Zimbabwe and Tanzania had started to pay off, predicting cash flow would be flat in the final quarter of 2017. It declined to give more detail on current trading in its update.
Fastjet, which is listed on Aim, suffered a shareholder uprising last year after reporting a £25m loss in 2015. Its co-founder, easyJet tycoon Sir Stelios Haji-Ioannou, successfully launched a rebellion to remove boss Ed Winter early last year, while chairman Colin Child announced he was leaving in November, little more than a year after taking the post, when he also admitted the carrier needed more cash.
In its full-year results for 2016, the company said losses before tax soared from $21.6m (£16.8m) to $47.9m as costs increased by 29pc.
In spite of its recent troubles, the company was awarded the Skytrax award as Best Low Cost Carrier in Africa at an airshow held in Paris last week.
Thank you for erudite response. I actually made another sizeable purchase this morning.
I shall now sit back and enjoy the rest of the summer. As and when I see anything in relation to FJET that I feel I of interest (good or bad) then I shall share it with this board.
Steve Gurr, it is nice to see the opposite opinion, it makes for stimulating conversations.
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