1time clings to fastjet lifeline

2013-03-08 08:54

Cape Town - It has been four months since 1time was placed in provisional liquidation but it is still not clear whether the failed low-cost carrier will be liquidated or thrown a lifeline by fastjet.

Tourism Update reports that the return date for the provisional order has been extended for the second time, this time until October 2.

1time's Provisional Liquidator, Aviwe Ndyamara of Tshwane Trust, confirmed to Tourism Update that the extension was due to on-going negotiations with fastjet.

Andries Ntjane, Deputy Director: licensing and permits at the Department of Transport, said fastjet's application to acquire 1time was still being considered. He said fastjet had submitted an amendment to its application that dealt with the BBBEE component of the company.

In order to win regulatory approval for its acquisition of 1time, fastjet has applied to Transport Minister Ben Martins for an exemption to the Air Services Act, which requires that 75% of the shareholding of the licence holder is held by South African residents. The act gives the minister the power to exempt operators from this requirement, however, no decision has been made regarding this yet.

Mango and Comair have strongly objected to fastjet's application for an exemption and its plans to acquire 1time, claiming it would have a negative impact on the local aviation industry.

In the mean time fastjet is also facing a claim amounting to over £1m from Tanzanian authorities for not paying taxes for close to a year. Fin24 reports that a spokesperson for the carrier who claimed that the matter was a legacy issue inherited from the Fly540 operation, which Fastjet acquired in June last year.

Read more on:    flights  |  travel south africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.


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
Comments have been closed for this article.

Inside Travel


#FindYourEscape with Traveller24

Your insider guide to exploring South Africa and the world...
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.