Fastjet to raise £4mln through share issue

Africa focussed budget airline Fastjet (LON:FJET) has raised just over £4mln through the issue of new shares.

It raised the money through a combination of subscriptions from institutional investors and a draw-down on its equity line facility which is provided by Darwin Strategic, part of Henderson Global Investors.
Just over 155.5mln new shares are being issued through the placing priced at 2.25p each.

Last week Fastjet told investors that passenger numbers in January picked up after an expected post-Christmas lull, while bookings for February are ahead of expectations.

Passengers using the Fastjet Tanzania services totalled 26,414 in January, with a load factor of 66.0% during the month. The load factor represents the number of passengers expressed as a percentage of seats available.

Since it started operating in late November, the FastjetTanzania service has carried 58,329 passengers.