Fastjet completes £2 mln placing

Low cost Africa-focused carrier Fastjet (LON:FJET) has completed a placing to raise £2 million through a placing, it said.
It issued 160 million new shares at 1.25p each.

Earlier, the company revealed that its new South African partner has changed its name from Blockbuster to Fastjet Holdings.

It followed this week’s news that Fastjet is to enter the South African flight market after signing a deal with investment company Blockbuster to set up a service between Johannesburg and Cape Town.