Fastjet Zimbabwe strengthens its fleet with the addition of a third ERJ145
With this acquisition, Fastjet Zimbabwe now has a seamless fleet of three ERJ145s. According to the company's management, the aircraft offers capacity compatible with the needs of the Zimbabwean and South African regional market and ensures a comfortable cabin environment.
"We are delighted to add another Embraer ERJ145 aircraft to our Zimbabwe-based fleet. As we continue to contribute to the growth of the Zimbabwean economy and tourism industry [...] this additional aircraft will expand fastjet's capabilities and open up new market opportunities, which we remain committed to as we emerge," said a company spokesperson.
Fastjet started operations in 2012. Its Zimbabwean branch, the second in the group, became operational in October 2015. It currently serves the three major cities of the southern African country (Harare, Victoria Falls and Bulawayo). Internationally, the low-cost airline also offers flights to Johannesburg in South Africa. Since it began operations, the Fastjet group has carried more than 3.5 million passengers.
However, this operational vitality is marred by significant cash flow challenges. In financial difficulty, the group is currently in discussions with Solenta Aviation Holdings Limited (approximately 60% shareholder in Fastjet Plc), and other local Zimbabwean investors to sell its Zimbabwean operation. However, the health crisis has delayed this transaction, valued at $8 million, which was originally expected to be finalised in April 2020. In November 2019, its Tanzanian subsidiary was declared insolvent and put into receivership. A month earlier, it was the turn of the other subsidiary Fastjet Mozambique to suspend commercial activities indefinitely.
