All data is delayed
Loading...
See More

Lifeline for 1time?

Dec 04 2012 13:48
Fin24

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 1time's creditors.

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 liquidation.

 It had about R320m in short-term debt and had been in negotiations with creditors since March.

 
1time  |  fastjet

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
17 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

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

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...