Launching Africa's first low-cost airline is a big ask and, just two months after its first Airbus A319 took to the skies, FastJet (FJET) has flown into a legal dispute.
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Uncovering the truth isn't easy, either. Newspaper reports suggest Canadian aircraft leasing company Avmax is owed nearly $2m and Don Smith, the founder of Fly540 bought by FastJet from Lonrho last year, says he's still owed about $7m. FastJet rejects both claims and is adamant that any outstanding debts are not significant. Yet its share price has fallen sharply. That, however, could have just as much to do with a recent profits warning from African conglomerate Lonrho.
