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Equity Development note this morning: "Hindsight is a wonderful thing. 12 months ago Fastjet Tanzania was riding a ‘crest of a wave’ having out-grown the capacity of its three A319s jets, raised $75m via a placing at 100p/share and delivered higher ticket prices, load factors and utilisation rates. All told, the company’s low-cost carrier (LCC) model was going down a treat with cashstrapped African travellers, who previously had to endure poorly connected and expensive air travel. How things have changed. During H2’15 the Tanzanian economy literally fell off a cliff – negatively impacted by weaker consumer/government demand due to the presidential elections in October, a 24% fall in the currency (Shilling vs US dollar) and lower commodity/oil prices" From ResearchTree
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