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Fastjet extends loan agreement terms

Staff Writer |
African airline Fastjet said it had managed to extend the terms of a loan to March 31.

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Fastjet in June had entered agreements with Annunaki Investments and SSCG Africa Holdings, following which the airline lent $5 million from its Zimbabwe unit to Annunaki in return for a $2 million loan to Fastjet from SSCG.

Fastjet said that the loan amount from Fastjet Zimbabwe to Annunaki had increased from $5 million to $7 million, after certain currency devaluations.

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