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Johannesburg, South Africa - Johannesburg-based British carrier Fastjet announced that it has sold an Embraer E145 regional jet to the Fastjet group's South African shareholder, Solenta Aviation Group, for USD2.2 million to reduce its debt to Solenta to USD1.4 million.

"Following the suspension of the Company's flight operations in Mozambique, one of the Company's Embraer E145 aircraft remained idle and needed heavy maintenance. Following the completion of the heavy maintenance, the Company entered into an agreement with Solenta over the Sale of that Embraer E145 to settle part of Solenta's Creditor Position,"

Fastjet said.

The transaction was concluded on March 9 but disclosed on April 24. Fastjet Mozambique was closed by the Fastjet Group in late October 2019. Following the liquidation of Fastjet, the group currently remains active in Zimbabwe only. It planned to launch Fastjet South Africa in 2020 but has deferred those plans given the impact of the COVID-19 pandemic on South Africa's tourism market.

Solenta Aviation is in the process of acquiring Fastjet Zimbabwe in consortium with local Zimbabwean investors.
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