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1time hit by fuel prices, weak demand

Johannesburg - Budget airline 1time Holdings [JSE:1TM] on Tuesday advised a headline loss per share of between 7.6c and 9.0c based on a weighted average number of shares in issue of 256.7 million for the six months ended June.

It indicated a loss per share of between 12.6 cents and 13.9 cents.

The group said its results were due to the airline incurring an attributable loss due to average rand fuel prices increasing by 28% resulting in an additional cost of R56.5m for the period, abnormally poor passenger demand during May and June reducing load factors, and airport charges increasing by 24% for the period resulting in an additional cost of R12m.

"The aircraft maintenance business turnaround is on track achieving close to breakeven for the period compared to the R22.6m attributable headline loss incurred during the 2010 financial year," 1time said.

The group expected to publish its results on about September 5.
 
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