Fastjet confirms major fundraising plans

Fastjet confirms major fundraising plans

Fastjet, the African low-cost carrier backed by EasyJet founder Sir Stelios Haji-Ioannou, this morning confirmed press speculation that it is planning a major fundraising.

The airline issued a statement to the Stock Exchange following a report suggesting that it could raise $75 million to help support expansion.

Sir Stelios, who owns more than 10% of the Tanzania-based airline, is thought to be putting in 10% of the amount raised, the Times reported.

The carrier said: “Fastjet notes today's press coverage in The Times in relation to a fundraising to fund its growth plans.

“The company can confirm that it is currently in talks with potential investors and will provide an update in due course.”

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