April 23, 2019 / 6:48 AM / a year ago

Fastjet expects to be marginally profitable in 2019

April 23 (Reuters) - Low-cost African airline Fastjet Plc reported a narrower operating loss for its first quarter on Tuesday and said it expected to be marginally profitable in 2019, after a cash crunch nearly drove it into administration last year.

The cash-strapped company reported first-quarter underlying net operating loss of about $0.2 million, excluding a one-off item of $6.2 million related to its Zimbabwe operations.

Fastjet had posted a loss of $7.8 million a year earlier. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Gopakumar Warrier)

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