Fastjet to raise £19-million-plus through share issue

African budget airline fastjet has said it will raise as much as £19.2 million through a share issue, issuing the shares at 50 pence each. This according to Reuters.

In addition, the airline announced that Nico Bezuidenhout (pictured), its recently appointed CEO, would start a business review when he took up his post with the carrier in August. Bezuidenhout takes over from outgoing CEO, Ed Winter.

According to Reuters, fastjet expects to report a trading loss for 2016. The airline does, however, intend to break even as far as cash flow is concerned by the end of next year, despite currently facing tough conditions in its home market of Tanzania.