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FastJet Zimbabwe warns of shutting down

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FastJet Zimbabwe warns of shutting down. The company says their hopes are pinned on the availability of their foreign currency stuck at the Reserve Bank of Zimbabwe. FastJet Zimbabwe has warned they might close down their business and cease to operate by the beginning of September if the economic situation doesn’t improve. Part of the statement by the company read:

“If flight operations do not restart to sustainable levels by the beginning of September or the company is unable to access hard currency from the Reserve Bank of Zimbabwe through repayment against the company’s historical legacy loans, it will cease to be a going concern.”

“Therefore, in the event that the company is unable to find alternative solutions before 31 August 2020, then the directors believe the company would be unable to continue trading as a going concern beyond 31 August 2020,” FastJet Zimbabwe said>chaosafrica

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