Fastjet earnings hit turbulence on stiff competition

The airline’s transition from a pure low-cost model to a ‘value airline’ offering has been slow, potentially leaving gaps in capturing market segments that could contribute higher yields.

STIFFER competition from new entrants in the local aviation space adversely impacted Fastjet Zimbabwe’s top line, subsequently plunging it into a US$4 million loss in 2023, the company’s latest annual report shows.AdvertisementsAccording to the company’s delayed 2023 annual report, revenue rose marginally by 1,8 percent to US$50,9 million in 2023 from US$50 million in 2022…

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