UK 06:53 Wednesday, 21 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
No wonder Sir Stelios wants wholesale boardroom change at FastJet (JFET) a disastrous trading statement today makes it clear that the current board has not got a scooby and that bankruptcy is very much on the cards.
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Comments
SCEPTIC
Meanwhile over on “WTG” another goodwill impairment …
You’re having a good year …
wildrides
Minor detail ………. but I think they bought a plane( rather than leasing another) with some of that cash ………… no doubt Duck will be on later to explain it better when the water has run off his back . “Premature Birth Bear” must be wetting himself this morning. Fact is tho ……..it was about 52p when he called it short and now at 40 p odd its no great drop yet . Not as bad as
NIPT yet anyway ( from when it was called short ) or Obtala .
Graham
The shares were 60p at Gold & Bears Conference, not 52p.
Furthermore, I had identified it as a good short some time prior to that. I don’t talk publicly or in a timely way about every stock that I analyse. Furthermore, I don’t short something just because I’ve identified it as such. I have never shorted Fastjet.
Yes, they bought a plane.
Duck and Dive
If wishes were horses, beggars would ride. You need to re-read the RNS and stop inventing stuff to suit your agenda.
The fact of the matter is that Fastjet has $20m cash “available” to it. It wouldn’t be available if it were owed to third parties. It says it doesn’t need to raise cash this year – which it could not say if it it were anywhere near trading while insolvent. If it does elect to raise cash it will be optional in order to provide greater headroom or fund future growth. They also bought a plane last year which they could sell if they need to.
The RNS merely confirms what most shareholders already expected. Capex has been sunk into new routes and a new hub in low season when virtually all airlines operate at a loss. With the infrastructure in place, revenues will improve with Easter and summer traffic – while Xmas and New Year business will hopefully set up a cash generative 2017.