African low-cost carrier fastjet reported a net loss of $48 million for the year ended Dec. 31, 2016, more than doubling the $21.9 million loss in the year-ago period. Fastjet has air operator’s certificates in two countries—Tanzania and Zimbabwe—which are facing tough economic conditions and increased competition, as the two airlines themselves battle to right-size to the market. “These financial results reflect not only a difficult market place, but also the ...

Subscribe to Access this Entire Article

"Fastjet more than doubles full-year net loss for 2016" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.