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 ...

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