UPDATE 1-Cash-strapped African airline Fastjet extends loan agreement terms [Reuters]
Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares (RYAAY)
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Source: Reuters
UPDATE 1-Cash-strapped African airline Fastjet extends loan agreement terms | Reuters 2 Min Read (Adds details, background on troubles) March 1 (Reuters) - Cash-strapped low-cost African airline Fastjet Plc said on Friday it had managed to extend the terms of a loan to March 31. Fastjet in June had entered agreements with Annunaki Investments and SSCG Africa Holdings, following which the airline lent $5 million from its Zimbabwe unit to Annunaki in return for a $2 million loan to Fastjet from SSCG. The low-cost airline said on Friday that the loan amount from Fastjet Zimbabwe to Annunaki had increased from $5 million to $7 million, after certain currency devaluations. Fastjet has been facing a multitude of issues mainly relating to its cash balance and has struggled to secure cash through fundraising and equity refinancing to continue operations. It faced regulatory hurdles after Tanzanian aviation authorities warned of revoking the company’s licence. This prompted Fastjet Airlines Ta
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- 4/4/24 - Evercore ISI Group
RYAAY
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- 4/22/24 - Form 6-K
- 4/12/24 - Form 6-K
- 4/9/24 - Form SC
- RYAAY's page on the SEC website