Fastjet flags dwindling cash resources, may end Tanzania operations

African budget airline Fastjet Plc is facing a cash crunch. FILE PHOTO | NMG

African airline Fastjet Plc said on Wednesday its available cash resources were minimal and that it was in talks with major shareholders regarding potential fundraising, sending shares down more than 30 per cent.

The company also said it was evaluating its Tanzanian operations and could cease operations in that country.