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Fastjet yet to secure critical funding lifeline

October 31, 2018 / DAVID KAMINSKI-MORROW

The loss-making airline says it is able to continue operating beyond October, owing to “some improvement” in trading and cash generation.This has bought the struggling company further time to continue discussions with creditors and its major shareholders. It has been seeking additional funds and has also been negotiating to reduce outstanding balances, as well as capital and interest burdens.But while discussions with certain parties have been “positive”, says the carrier, the talks are still continuing.There can be no guarantee of a successful outcome, it says.If Fastjet is unable to carry out an equity fundraising or reach an agreement with its key creditors in the coming days, it says the group will be “unable to continue trading as a going concern