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low-cost African airline backed by Sir Stelios Haji-Ioannou, has had its
accounts qualified by auditors amid concerns it does not have the funds to
continue trading as a going concern.
said there was “significant doubt” the AIM-listed company, in which the easyJet
founder owns a 3.95pc stake, could continue to trade. The
qualification was the result of sizeable losses and write-downs for the 18
months to December 2012.
group made a loss after tax of $56m (£37m) in the period, and saw an operating
cash outflow of $19.9m. The auditor said these figures and the fact that its
prospects depend on improved trading and extra funding were all reasons for the
in fastjet, which had fallen by more than 70pc from the start of the year to
close at 1.26p on Friday, are likely to fall further on Monday.
accounts were published almost two hours after the market closed in London on
Friday. Besides Sir Stelios, other investors include Lonhro, which owns a
49.14pc, and Henderson Global Investors, which has a 6.47pc stake.
consolidated accounts show a loss before tax of $55m, including $23.5m of
write-downs of goodwill and other matters. The bulk of those other matters
related to the takeover of Nairobi-based Five Forty Aviation.
the accounts do reiterate fastjet’s recent £15.7m of funding raised from US
asset manager Bergen, noting that at the end of April 2013, £13.1m had not been
drawn down. In addition, the airline has raised £8m through share placing since
the period covered in the accounts.
close to fastjet pointed out that the loss had been flagged in a trading update
sources also said that, while Fly540 operations had not performed to
expectations, the board, led by executive chairman David Lenigas, was taking
action to improve its performance.
fastjet spokesman said: “The ability to stimulate and grow the market using the
low-cost airline model has proven to work.” He added that fastjet was the
second most “liked” African airline on Facebook and the airline was expanding
to South Africa.
VACANCIES ANNOUNCEMENT Air Tanzania Company Limited (ATCL) is in the process of revamping its operations and has introduced new equipment to its fleet. The Company is therefore inviting applications from qualified personnel to fill various positions. 1. POSITIONS: 1.1. Dash 8 – Q400 Mechanical and Avionics Certifying Engineers (6 POSTS) a) Qualifications· · Must possess a valid Aircraft Maintenance Engineers License (ICAO TYPE II). · · Must possess a valid Dash 8 – Q400 Approval/License. · Must have successfully completed Dash 8 – Q400 type course from an Approved Training Organisation. · Must have Aircraft Maintenance working experience, as a certifying engineer, of not less than 5 years; 2 of which being on Dash 8 – Q400. Experience must include release to service certification after “A” Check and above. · Computer literacy· · Fluency in English·
Air Tanzania Company Limited (ATCL) is in the process of revamping its operations and has introduced new equipment to its fleet. The Company is therefore inviting application from qualified personnel to fill various positions. 1. POSITIONS: 1.1 Pilot-in-Command – Dash 8 (11 Posts) a) Qualifications: Must possess Airline Transport Pilot License (ATPL) and with performance “A”.Must additionally achieve the following:- · Minimum of 4000 hours flying experience of which 2000 hours must be command on multi-engine aircraft; Above 17 ton. · Group 1 endorsement on DASH 8 or Equivalent with a minimum of 500 hours command on type; · Pass an oral interview and flying acceptance check conducted by the Company; · Must pass a Base and Route check with an Instrument Rating within 10 and 70 hours respectively; · Track record of good performance as a Commander and no accident record. b) Duties and responsibilities : ·
JOB VACANCY Precision Air Services Plc is a fast growing private Tanzanian airline which operates in Partnership with Kenya Airways, with its strategies to expand wings beyond East Africa and Africa. In order to keep our services at a higher level and meet our customers’ maximum satisfaction We wish to invite applications from suitably qualified candidates to fill in this challenging position. POSITION: CABIN CREWS(10-POSTS) REPORTS TO: CHIEF CABIN CREW DUTY STATION: DAR ES SALAAM ROLE PURPOSE OF THE STATEMENT You will be reporting to Chief Cabin Crew/Assistants Chief Cabin Crew - Precision Air Services PLC. Please take note of your responsibilities. Consistently give quality customer service to passengers in a safe environment for their comfort and satisfaction KEY ACCOUNTABILITIE