Fastjet’s CEO to step down and to take top job at Mango Airlines

posted on 2nd July 2019 by Justin Burns
Fastjet's CEO to step down and to take top job at Mango Airlines

Cash-strapped African low-cost carrier Fastjet’s chief executive officer (CEO) Nico Bezuidenhout has announced he will step down at the end of September this year.

He has been CEO of the airline – which operates from bases in Zimbabwe and Mozambique – for the last three years.

Reuters reported today that Fastjet’s outgoing CEO will take the top job at South African carrier Mango Airlines on 1 October.

At fastjet, in the interim, Mark Hurst, currently Deputy Group CEO, will take up the position of acting CEO, working closely with Bezuidenhout for the handover, and thereafter assume the Group CEO role until a permanent replacement CEO is appointed.

Fastjet chairman, Rashid Wally said: “We are delighted to have someone of Mark’s calibre already on the Board. Mark will be focused on continuing to consolidate fastjet’s position in its core markets as well as explore other opportunities for growth.”

On 28 June, Fastjet reported an after tax loss of $27.6 million for 2018 against $11.2 million the previous year.

This came despite revenue growing by $24.1 million to $38.5 million helped by increased passengers numbers in Zimbabwe and Mozambique.

But costs rose by 132 per cent to $64.1 million, largely driven by raised capacity in both countries.