UK 06:50 Wednesday, 21 October 2026
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Oh dear. Baby Bear called this one to 0p at Gold & Bears HERE since when shares in Fastjet (FJET) have soared but now the chickens are coming home to roost with Sir Stelios Haji-Ioannou warning that the company has misled investors and is facing a cash crunch.
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Comments
wildrides
Funny how it aint moved the shares much either way . I was expecting big movement from yesterdays RNS ……………. but nothing .
Duck and Dive
Most of the cash comes in over Easter and the July/August holiday period which is when the new routes will prove their worth. Stelios seems to think Fastjet has sufficient cash to see them through to the holiday revenues. They also own an Airbus 319 which they could sell for $10m+ if they need to. And regardless what Liberum may have said (they reiterated their Buy rec today with a 90p target), few PIs are expecting the airline to be profitable in 2016. Cash generative at some point in the year is about the best scenario with 2017 being the hope for a maiden profit.
There are other benefits to being Gatwick based apart from Ed Winter’s convenience so Stelios must have a bigger plan if he wants to move the HQ to Africa. Maybe we are poised to buy up what’s left of FlyAfrica, including some of its management team… Or perhaps Stelios or someone else is preparing to bid for Fastjet. Impervious to buys or sells, the share price has been static for weeks and looks as though someone has been happily hoovering up any sells.
In any event, Stelios ranting and raving is invariably good news for his target…He still rants and raves at Easyjet even though it makes him more and more money.
Daniel Victor
I own about 300 shares.They’d fetch about 200 quid,or about a hundred and fifty after costs.So I may as well hang on and risk the lot.I’m guessing that most private shareholders are in the same boat with this one.
Duck and Dive
Forgot to add that this is the same Stelios who increased his Fastjet shareholding by 20% only a few weeks ago. I feel a palindrome coming on. A man, a plan, a canal – Panama is good but geographically wrong.
wildrides
Duck …………. you completely lost me there with the canal .
Duck and Dive
@WR –
Able was I ere I saw Elba?
Are we not drawn onward to new era?
Duck and Dive
So I let set a mate, Stelios?