According to Fastjet, Solenta Aviation, a Johannesburg-based commercial aviation group, will acquire a 28% stake in the LCC. The low –cost –carrier will wet lease three of Solenta’s Embraer 145s, which will benefit other services over the next 5 years, to the value of $19,2m (R262m). The airline will be provided with the aircraft, crew, maintenance and insurance.on shorter routes Fastjet Airbus A319s  will be replaces with Solenta’s Embraer 145s.

Solenta will pay Fastjet a total of $28,8m (R393m) for it’s stabilisation plan.this is expected to break-even in the last quarter of this year  by improving cash flow and pursuing possible growth opportunities.

Nico Bezuidenhout, CEO of fastjet says,” Our agreement with Solenta represents a good operational and strategic fit.”

 

SA aviation group buys sizeable fastjet stake

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