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1time Airline

1time Airline

1time Airline is a south african low cost airline founded in 2003.

1time Airline (Pty) Ltd commonly called 1time was a South African low-cost airline that operated between 2004 and 2012. Based in the Isando Industrial Park in Kempton Park, Ekurhuleni, Gauteng,1time operated scheduled domestic and regional services. Its main base was OR Tambo International Airport, Johannesburg. The name of the company, "one time!", is a South African expression meaning "for real!".

In November 2012 the airline went into liquidation, and ceased operations. Despite various initiatives, including those of the liquidator, operations remain suspended.

Early history

The founders owned an aviation holding company, Afrisource Holdings, through which they owned Aeronexus, an aviation company that offered various aircraft services (and performed maintenance for 1time).

1time itself commenced ticket sales in January 2004, and started flying on 25 February 2004, with three daily return flights between OR Tambo International Airport and Cape Town International Airport.

The Avstar Group acquired a 15% shareholding in 1time Holdings, and under the deal the airline leased two additional 157-seat McDonnell Douglas MD-83 aircraft from the Group. In 2006 1time carried over a million passengers on services to eight destinations.

The airline was owned by Afrisource Holdings (50%), MKJH Trust (30%) and Mogwele Investments (20%) and had 420 employees (at March 2007).

1time Holdings made an IPO on the Johannesburg Securities Exchange (JSE) on 14 August 2007.

Timeline

December 19, 2012
Fastjet announced[9] that it had entered into an option agreement to buy the entire issued share capital of 1time Airline, and planned to take over up to three of the aircraft that were in the 1time fleet, and operate services on domestic South African routes.
December 11, 2012
decreed that the return date for the order
November 7, 2012
The North Gauteng High Court issued a provisional liquidation order
November 6, 2012
Dr Gerhard Holtzhauzen, 1time's business rescue practitioner, filed an application for the termination of the Business Rescue proceedings, and for the airline to be placed under provisional liquidation.
November 2, 2012
1time ceased operations and filed for liquidation.1time Airline has applied for business liquidation and that all of its operations have been grounded with immediate effect.
August 22, 2012
reported that 1time had filed for business rescue to give it protection from its creditors because it was "financially distressed"
August 14, 2007
1time Holdings made an IPO on the Johannesburg Securities Exchange (JSE)
March 2007
The airline was owned by Afrisource Holdings (50%), MKJH Trust (30%) and Mogwele Investments (20%) and had 420 employees
February 25, 2004
started flying
January 2004
1time itself commenced ticket sales

Patents

Further Resources

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