It seems Fastjet is eyeing up 1Time carefully, and is in negotiations to buy the carrier. 1Time was forced to suspend flights in November when it ran into serious cashflow problems. However, Fastjet sees this as an easy entry into South African aviation market. The plan would be for Fastjet to pay a nominal fee to acquire the airline and reach a settlement with 1time's … [Read more...]
1Time grounded, goes into liquidation
1Time of South Africa seems to have not weathered the current financial storm, and as of 2nd November, the airline has been grounded - and it to be liquidated. On the remains of 1times web site 1time Airline has applied for business liquidation (02.11.2012) and that all of its operations have been grounded with immediate effect. The business rescue practitioner … [Read more...]