FASTJET PLC (lon:fjet)
FastJet What Next?

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Title: FastJet What Next?
Company: FJET - FASTJET PLC
Share Price Then: 20p
Author: Ian Smith
Date: Wed 19 Jul 2017
Comments: I have been following FastJet for a few years now and they are the example used in the Still Tempted By The Big Win? page.

They are an African airline trying to replicate the success of EasyJet, hence the name and Stelios of EasyJet is a significant share holder.

The presence of Stelios did temp me in a few years ago, but I think that I misjudged how important the business was to him!

Unfortunately if you look at the company you will see a history of rights issues and suggestions that success is just around the corner, followed by another rights issue and success is just around the corner and …

Business development hasn’t been helped by a revolving door of directors coming on board with a "This Will Save The Business" plan and then leaving when it doesn't.

I can accept that In some respects directors salaries sort of don't matter but for the year ending 2016 they were $2m, part of a $48m loss from $68m revenue. If you look at it as about $10m for the years 2013-2016 having lost over $100m of shareholders funds then does it looks a lot different

It may be that the national carriers are still too powerful in the area, Zimbabwe. South Africa, Tanzania and Zambia for there to be a competitive airline business, and I am struggling to find any good news.

The final worry is that the auditor’s express an emphasis on the company’s ability to continue as a going concern in the 2016 Annual Report.
Read Count: 34

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