Loading...
See More

Bankrupt 1time files for liquidation

Nov 02 2012 16:05 James-Brent Styan

1time (Pic: www.southafrica.to)

Related Articles

Mango dispute threatens holiday plans

New low cost carrier takes off

1Time misses interim report deadline

1Time cuts planes, routes, warns on jobs

Low-cost aviation may be jobs driver

1time interim loss expected to widen

 
Cape Town - It's official - low-cost airline 1time is bankrupt and in liquidation after a final meeting with stakeholders on Friday afternoon.

The airline's final flight was at 15:00 on Friday and no further flights are scheduled, a 1time executive confirmed to Fin24.

1time has been under business rescue for a few months under the sterling leadership of new CEO Blacky Komani.

The airline owes various institutions, including Airports Company South Africa, about R350m.

Following shortly after the liquidation of Velvet Sky, this comes as a blow to South African consumers.

 - Fin24

Follow James-Brent Styan on @jamesstyan.

1time  |  airlines  |  bankruptcy
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
69 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

3 sports games you have to watch this weekend

Whether it’s date night or a braai with buddies, plan around these three exciting sporting games!

 
 

Men24.com

How to maintain your mo, bro
Hottie of the day: Colette
Pro-skater Tony Hawk rides a hoverboard!
10 ways to drive her wild!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...