Fastjet raises £1mln through equity financing facility

Africa-focused budget carrier fastjet (LON:FJET) has raised £1 million by drawing down on its equity financing facility with Darwin Strategic.

Fastjet issued around 37.73 million shares to Darwin under the terms of their deal at a price of 2.65p each – representing around a 5% discount to Friday’s close of 2.8p.

Last week, the airline reported what it called a “flurry” of bookings since it went live on the Global Distribution Systems (GDS) platform, which allows travel agents to sell its flights.

On Friday January 17, its integration with Hahn Air Systems’ e-alliance product was successfully completed.

Chief commercial officer Richard Bodin said: “Since going live on Friday we have already seen a flurry of bookings via the new system, with sales enquiries coming in from as far afield as China, Australia and the United States.”

Fastjet can now access over 91,000 travel agencies through all key Global Distribution Systems (GDS), including Amadeus, Sabre and Travelport.

Also this month, it announced it had begun discussions with the Zambian government over creating a new operation based in Lusaka.