Budget airline fastjet today admitted it is still on the hunt for more cash from its investors, including Sir Stelios Haji-Ioannou.
The company is hoping to be the first pan-African low-cost carrier and last year launched its first international flight, from Dar es Salaam in Tanzania to Johannesburg.
It plans to roll out its service across the continent and is looking for new funding to do this. “[Fastjet] continues talks with potential long-term investors,” it said in a statement, confirming that easyGroup Holdings was a party to these discussions.
Haji-Ioannou, who founded easyJet in 1995, has a 6% stake in the group, which last month carried 35,100 passengers, making revenues of $2.87 million (£1.72 million).
Chairman and chief executive Ed Winter said: “Our February performance continues to demonstrate how well the low-cost model is working, producing strong average yields and still providing plenty of low-fare seats for passengers booking their seats early.
“The continued growth in passenger numbers and yields puts fastjet well on track to become cash generative as the route network and capacity increase.”
