The carrier has blamed “challenging market conditions” and “currency headwinds”.
In a trading statement, Fastjet stressed that despite the setback it would be “cash flow positive for the next financial year”.
The airline, which counts easyJet founder Stelios Haji-Ioannou as one of its shareholders, was launched in 2011.
After scaling back operations in the likes of Angola and Ghana it has refocused its network on Tanzania.
It is set to start flying internationally from Zimbabwe in the New Year and is in the final stages of securing an air operator’s certificate in Zambia.
“Fastjet is proactively taking steps to manage its operating costs and overheads, and fully align its growth strategy with demand,” the company said.
