Share

1time flying high from AltX to main board

Johannesburg - Aviation group 1time Holdings [JSE:1TM] says its listing transfer from the AltX (Alternative Exchange) to the Johannesburg Stock Exchange's (JSE) main board on Monday will attract greater shareholder interest.

The group said the listing transfer would also enable it to be measured against airline competitors.

1time - consisting of an airline, a charter group and a maintenance company - listed on the AltX on August 14, 2007.

"The group is planning to operate from Lanseria Airport in Johannesburg when that airport's five-year exclusive use agreement with kulula.com ends in March 2011, and its maintenance company, Safair Technical is looking to exploit growth opportunities," group CEO Glenn Orsmond, one of the five original founders of 1time, said.

He said the group had come a long way since it first opened for business. "In January 2004 we opened ticket sales for flights between Johannesburg and Cape Town, operating one aircraft and since then, we have grown our fleet to 12 aircraft, operating over 1200 flights a month, and expect to carry close to two million passengers this year."

The 1time group was one of the AltX top performers in 2009 and at the end of June 2010 had a market capitalisation of R225m.

Russell Loubser, JSE CEO, said that 1time's transfer to the JSE main board was another indication that the AltX was fulfilling its purpose.

"It is a board where smaller companies are given an opportunity to grow and a feeder for our main board." 

- SAPA

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.87
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders