Domestic airline files for liquidation

2012-11-02 14:41

It’s official.

Low cost airline 1time is bankrupt. The airline is in final liquidation after a final meeting with stakeholders.

The airline’s final flight was at 3pm today and no further flights will be held, a 1time executive confirmed to Fin24 today.

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

The airline owes various institutions including Acsa around R350 million.

This comes as a blow to south African consumers and follows shortly after the liquidation of Velvet Sky earlier.

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