The six-year-old, London AIM-listed airline said it needs more money by the end of next month if it is to stay afloat. “Additional funding will be required by the end of October to enable Fastjet to continue operating,” it stated in its first-half results. Fastjet currently has three operational subsidiaries in Tanzania, Zimbabwe and Mozambique which fly domestically as well as serving points in South Africa and Zambia. Its most recent cash call was in June, when management raised $12 million through a share placement, subscription and open offer. The fear now is that management may have run out of options, and shareholders run out of patience.

Source: Forbes September 26, 2018 20:00 UTC