logo-loader
Fastjet PLC

fastjet CFO to resign next March

The company said it was now searching for a new CFO and anticipated that there would be “an adequate handover period” as the position changed hands

Fastjet aircraft
The news is unlikely to be taken positively after investors were warned the company was on the brink of going bust in November

Africa-focused budget airline fastjet PLC (LON:FJET) said that its chief financial officer, Michael Muller, will leave the firm in March 2019 after tendering his resignation.

The company said it was now searching for a new CFO and anticipated that there would be “an adequate handover period” as the position changed hands.

READ: fastjet shares nosedive as it warns it could go bust by the end of the month

The news is unlikely to fill investors with confidence, particularly after they were warned by fastjet’s founder Sir Stelios Haji-Ioannou in November that the company could go bust if they didn’t stump up more money.

The ambitious carrier set out to be the continent’s first low-cost pan-African airline, but it has struggled to gain traction in its target markets.

It is also the second time the airline has warned that it could go under, having previously warned of impending collapse in June.

In late-afternoon trading Friday, fastjet shares were steady around 1.38p.

Quick facts: Fastjet PLC

Price: £0.01

Market: AIM
Market Cap: £54.16 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: CB2 Insights licenses electronic data capture software to UK...

CB2 Insights (CSE:CBII-OTCQB: CBIIF) CEO Prad Sekar joined Steve Darling from Proactive Vancouver to discuss the company doing a deal with MYACCESS Clinics. This will allow CB2’s software to capture comprehensive data sets related to patient health and treatment histories and manage ongoing...

1 day, 5 hours ago

2 min read