African budget carrier fastjet has sold its shares in grounded loss-making regional carrier Fly540 Ghanato DWG-G Company for $1. Fastjet acquired Fly540 Ghana from Lonrho Aviation in July 2012 with the aim of using the carrier’s air operator’s certificate (AOC) to launch low-cost operations under its own fastjet brand. However, this has not happened and Fly540 Ghana has continued to rack up losses, which totaled $11.3 million at pre-tax level in 2014. “While West Africa ...

Subscribe to Access this Entire Article

"Fastjet sells Fly540 Ghana" 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.