Nov 27 (Reuters) – Money-strapped FastJet FJET.L stated on Wednesday it’s in talks to promote its Zimbabwean operations to a consortium led by its greatest shareholder Solenta Aviation for $eight million, a deal which might give the low-cost service cash to remain alive as an organization till 2021.
The corporate, whose shares plummeted 32% to a recent report low after the announcement, stated it was additionally in talks with a few of its main shareholders for a money name.
FastJet stated if the restructuring plans don’t pan out by the top of February, the Africa-focussed firm wouldn’t be capable of proceed buying and selling as a going concern.
(Reporting by Muvija M and Noor Zainab Hussain in Bengaluru; Enhancing by Rashmi Aich)
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