Fastjet chief executive takes off

Low-cost African airline Fastjet announced on Tuesday that chief executive Nico Bezuidenhout will be standing down from the role and leaving the company at the end of September.

Bezuidenhout, who took over as chief executive back in 2016, will eventually rejoin a business of which he was the original founding CEO but will first spend a period of three months with Fastjet in order to oversee specific projects, assist with the handover of responsibilities and ensure an "appropriate transition".

In the interim, deputy chief executive Mark Hurst will take on the role of acting CEO, working closely with Bezuidenhout on the handover.

Chairman Rashid Wally said: "On behalf of the board and myself, I would like to thank Nico for his efforts, dedication and time invested over the last three years in favour of Fastjet and its shareholders.

"The Fastjet of today is a fundamentally different business compared to three years ago and we wish Nico well in his future endeavours."

At 0855 BST, Fastjet shares were down 7.94% at 1.45p.