Fastjet raises £1.3mln in drawdown

Low-cost African airline Fastjet (LON:FJET) has raised £1.33mln by drawing down on its equity financing facility with Darwin Strategic.

Fastjet issued 47.6mln shares to Darwin under the terms of their deal at a price of 2.8p each, a touch below Monday’s closing market price.

The company just unveiled plans to launch a second international route from Tanzania. Flights from Dar es Salaam to Lusaka in Zambia will initially operate twice a week, with the first flight scheduled to take off on 1 February 2014.

Tickets go on sale next week and prices start from $75, excluding government charges and taxes.

Shares dipped 4% to 2.8p on Tuesday.