Defunct South African LCC 1Time (T6) has set 27 February 2013 as its intended date of relaunch as talks with suitor Fastjet (FN) and the airline's creditors progress. On 19 December, it was announced that fastjet had entered into an option agreement to buy the entire issued share capital of 1Time Airline from its parent company, 1time Holdings Limited, for ZAR1 (USD0.12). |
| Onboard a Fastjet flight (fastjet) |
According to Aviwe Ndyamara of the airline's liquidator, Tshwane Trust, negotiations are going well, but several organisations still have to sign off on the deal.
“We’re talking about the Civil Aviation Authority, the Air Licencing Council, the Department of Transport and the Johannesburg Stock Exchange requirements [before the deal is complete].”
Source [iAfrica]
It is understood that fastjet would be taking up to three of 1Time's twelve aircraft, with Airbus A319s to be phased in at some stage in the future, along with the phasing out of the 1Time brand to be replaced by that of fastjet.
