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Fastjet chief's exit shows Africa is left behind by aviation boom

London

WHEN a Fastjet plc plane flew from Tanzanian business hub Dar es Salaam to Mwanza on Lake Victoria in Nov 29, 2012, chief executive officer Ed Winter lauded the service as heralding the start of low-cost travel in Africa.

Barely three years on and after Mr Winter quit this week after a spat with backer and EasyJet plc founder Stelios Haji-Ioannouas, Fastjet bleeds cash. It's the latest victim of a malaise that's gripping African airlines just as the oil-price decline allows once-struggling operators elsewhere to make money.

African carriers collectively lost US$300 million in 2015 even as the global industry racked up record earnings of US$33 billion, according to International Air Transport...

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