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 ...

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