African low-cost carrier fastjet has issued a third profit warning in a year and has said it may have to raise further funds later in 2016. The profit warning came days after major shareholder Stelios Haji-Ioannou called for an extraordinary general meeting with the aim of firing CEO Ed Winter and another director, complaining about management salary levels and that the company is run from London, rather than Africa. Winter has already intimated his departure, but Haji-Ioannou wants to ...

Subscribe to Access this Entire Article

"Fastjet issues new profit warning" 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.