Cape Town - British-owned low-cost airline Fastjet says it
is in talks to buy failed budget airline 1time from its liquidators.
The transaction would involve Fastjet paying a nominal fee
for the purchase of 1time.
The deal would also involve reaching a settlement with
FastJet is the holding company for African airline Fly540,
which operates from Kenya, Tanzania, Ghana and Angola.
It was reported last month that Fastjet had pulled out of
last minute negotiations to save the airline, prompting 1time to file for
It had about R320m in
short-term debt and had been in negotiations with creditors since March.