Fastjet sells off two ATRs as part of restructuring plan

The deal is believed to be worth a total of $21.4 million. The aircraft were previously financed by the African Export-Import Bank (Afreximbank) with the value at $23.7million leading to a $2.3 million loss on the transaction for Fastjet.

The low-cost carrier had made provisions for $2.1million in its interim accounts,
“The ATRs have not been in use since operations ceased in Ghana and Angola earlier this year. The ATRs are surplus to current business needs and have not been generating a profit for the Fastjet group, but have been accruing finance lease and other costs in both 540 Ghana and 540 Angola,” the airline said in a statement.

Fastjet is restructuring the regional operation businesses operated by Fly540 and suspended flights at both bases, in order to focus on its core Airbus A319 operations.