Three senior appointments have been made as part of plans to turn around the fortunes of struggling African budget carrier Fastjet.

Confirmation today of a non-executive chairman, a non-executive director and a new chief financial officer come as part of a “stabilisation plan” designed to transform the business, in which EasyJet founder Sir Stelios Haji Ioannou holds a significant stake.

Current Fastjet chief financial officer, Lisa Mitchell, is stepping down “to pursue other opportunities”.

She is being replaced by Michael Muller, who joined the airline in November following management accounting roles at South African Airways.

Rashid Wally joins as non-executive chairman on April 1 from South African low cost carrier Mango Airlines, where he was also chairman.

His arrival will enable from Nico Bezuidenhout to resume his CEO duties at Fastjet after taking over as interim chairman in November.

Former easyBus CEO Peter Hyde has been appointed as a non-executive director.

Bezuidenhout said: “The benefits of our stabilisation plan are beginning to materialise and we look forward to pursuing Fastjet’s medium to long-term objective of becoming the first truly pan-African low cost airline with the support of our newly strengthened board.”