African carrier warns it will cease trading within days unless it can raise more funds

The African low-cost airline Fastjet is on the verge of going bust and has warned shareholders it will cease trading on Friday unless it can raise more money urgently.

The airline, which started operating in 2012 with the backing of easyJet’s founder, Sir Stelios Haji-Ioannou, is in discussions with major shareholders to raise more funds but admitted it had no assurance of a positive outcome.

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Read More Fastjet shares nosedive as cash crisis threatens survival

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