Fastjet Group, the UK-based shareholder of Fastjet Zimbabwe (FN, Harare International), announced in a stock market filing that it has sold an E145 to the carrier's South African shareholder, Solenta Aviation Group, for USD2.2 million in effect reducing its debt to Solenta to USD1.4 million.
"Following the suspension of the Company's flight operations in Mozambique, one of the Company's Embraer E145 aircraft remained idle and needed heavy maintenance. Following the completion of the heavy maintenance, the Company entered into an agreement with Solenta over the Sale of that Embraer E145 to settle part of Solenta's Creditor Position," fastjet said.
The transaction was concluded on March 9 but only disclosed on April 24.
Fastjet Mozambique (Maputo) was closed by the Fastjet Group in late October 2019. Following the liquidation of Fastjet (Dar es Salaam), the group currently remains active in Zimbabwe only. It planned to launch Fastjet South Africa (Johannesburg O.R. Tambo) in 2020 but has deferred those plans given the impact of the COVID-19 pandemic on South Africa's tourism market.
Solenta Aviation is in the process of acquiring Fastjet Zimbabwe in consortium with local Zimbabwean investors.
According to the ch-aviation fleets module, Fastjet Zimbabwe operates two in-house E145s (dry-leased from ACIA Aero and Plane Business) and wet-leases additional aircraft from Solenta Aviation as required.
