A double-edged sword. That is what low-cost airline Fastjet's venture into Zimbabwe has been since it first took to the skies more than two years ago. The South Africa-based airline has seen rapid growth and demand for its services, but it has also found Zimbabwe's economic terrain extremely tough. Persistent cash shortages that are now in their third year are the latest issue threatening Fastjet. A few years ago, the airline's troubles were related to a boardroom squabble with its former majority shareholder Stelios Haji-Ioannou, the founder of easyJet. Fastjet desperately needs access to $1.75-million (about R24-million) in ticket sales which is stuck in Zimbabwe or it faces closure. It is understood to be talking to major shareholders about equity fundraising. Financial turbulence In a statement, the airline said this week it may not be able to continue trading as a going concern. "Whilst initial discussions with certain shareholders have been positive, discussions are ongoing an...
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