1time Airline

1time Airline
IATA ICAO Callsign
T6 RNX NEXTIME
Founded 2003
Commenced operations 25 February 2004
Ceased operations 2 November 2012
Hubs OR Tambo International Airport
Focus cities

Cape Town International Airport

King Shaka International Airport
Fleet size 11 (in 2012)
Destinations 9 (in 2012)
Company slogan More Nice. Less Price.
Parent company 1time Holdings
Headquarters Kempton Park, Ekurhuleni, Gauteng, South Africa
Key people

CEO: Blacky Komani Chairman: Sipo Twala

Operations Manager: James Budge
Website 1time.aero

1time Airline (Pty) Ltd was a South African low-cost airline that operated between 2004 and 2012. Based in the Isando Industrial Park in Kempton Park, Ekurhuleni, Gauteng.,[1] 1time operated scheduled domestic and regional services. Its main base was OR Tambo International Airport, Johannesburg.[2] The name of the company, "one time!", is a South African expression meaning "for real!".[3]

In November 2012 the airline went into liquidation, and ceased operations. Despite various initiatives, including those of the liquidator, operations remain suspended.

History

Early history

The founders owned an aviation holding company, Afrisource Holdings, through which they owned Aeronexus, an aviation company that offered various aircraft services (and performed maintenance for 1time).

1time itself commenced ticket sales in January 2004, and started flying on 25 February 2004, with three daily return flights between OR Tambo International Airport and Cape Town International Airport.

The Avstar Group acquired a 15% shareholding in 1time Holdings, and under the deal the airline leased two additional 157-seat McDonnell Douglas MD-83 aircraft from the Group. In 2006 1time carried over a million passengers on services to eight destinations.[4]

The airline was owned by Afrisource Holdings (50%), MKJH Trust (30%) and Mogwele Investments (20%) and had 420 employees (at March 2007).[2]

1time Holdings made an IPO on the Johannesburg Securities Exchange (JSE) on 14 August 2007.

Provisional liquidation

On 22 August 2012, it was reported that 1time had filed for business rescue to give it protection from its creditors because it was "financially distressed".[5]

1time ceased operations and filed for liquidation on 2 November 2012, cancelling all flights and stranding hundreds of passengers, after a final meeting with shareholders. The airline's final flight was at 15:00 on the day it was liquidated.[6] The airline later issued the following statement on its website:

1time Airline has applied for business liquidation (02.11.2012) and that all of its operations have been grounded with immediate effect.

The business rescue practitioner has advised that there are no reasonable prospects of survival as a potential financier notified us this afternoon that they are no longer able to invest in our airline. It is therefore with the utmost regret, disappointment and heartfelt disbelief that we have to file for liquidation, which means the end of a dream and an era for all of us.

"I sincerely thank our employees who worked so hard over the years to drive 1time's business, the travel trade who have been steadfast in their support, and our passengers who carried and maintained 1time during our most difficult and trying financial times, your loyalty is appreciated.
Although 1time ceases to exist, the airline that we've built up through blood, sweat, tears and undeniable passion, will live on in the hearts of our passengers and also our competitors, who know that they have lost a formidable and world-class player in the low cost market."
Blacky Komani (1time Group CEO)[7]

On 6 November 2012, Dr Gerhard Holtzhauzen, 1time’s business rescue practitioner, filed an application for the termination of the Business Rescue proceedings, and for the airline to be placed under provisional liquidation. The North Gauteng High Court issued a provisional liquidation order on 7 November 2012, and decreed that the return date for the order would be 11 December 2012, at which time the court will rule on the final closure of the business.[8] On the same date, the Master of the High Court appointed Aviwe Ndyamara as the provisional liquidator.

On 19 December 2012 Fastjet announced[9] that it had entered into an option agreement to buy the entire issued share capital of 1time Airline, and planned to take over up to three of the aircraft that were in the 1time fleet, and operate services on domestic South African routes. However, negotiations with the liquidator appear to have lapsed.[10]

Destinations

1time McDonnell Douglas MD-83 ZS-OPX at OR Tambo International Airport

At the time operations ceased, 1time flew to the following destinations:

 South Africa
 Tanzania
 Zambia
 Zimbabwe

Fleet

1time McDonnell Douglas MD-83 ZS-TRL at OR Tambo International Airport
1time's McDonnell Douglas MD-87 ZS-TRH in AVIS livery at Lanseria International Airport

At the time operations were suspended, the 1time fleet consisted of the following aircraft:[12]

1time Fleet
Aircraft In
Service		 Passengers [13] Notes
McDonnell Douglas MD-82 3 157
McDonnell Douglas MD-83 5 157
McDonnell Douglas MD-87 3 132
Total 11

See also

References

  1. ↑ "Contact Numbers." 1time. Retrieved on 6 February 2011. "16 QUALITY ROAD, ISANDO, KEMPTON PARK "
  2. 1 2 "Directory: World Airlines". Flight International. 27 March 2007. p. 44.
  3. ↑ "About Us." 1time. Retrieved on 1 March 2010. "The name 1time, is a reflection of the South African soul of the company. In South Africa, the phrase "one time!" is a colloquialism meaning "for real!"."
  4. ↑ Airliner World, February 2007
  5. ↑ "Low-cost airline 1time files for business rescue". Retrieved 22 August 2012.
  6. ↑ "Hundreds stranded as 1time cans flights". Retrieved 2 November 2012.
  7. ↑ "1time web site". Retrieved 2 November 2012.
  8. ↑ "1time web site". Retrieved 19 November 2012.
  9. ↑ "Stock Exchange announcement". 19 December 2012. Retrieved 19 December 2012.
  10. ↑ "Fastjet puts off SA plans to focus on Tanzania". 14 June 2013. Retrieved 4 July 2013.
  11. ↑ "1time withdraws from Lanseria". IOL. 29 May 2012. Retrieved 1 June 2012.
  12. ↑ "1time Fleet Details and History - Planespotters.net Just Aviation". Planespotters.net. Retrieved 2012-06-20.
  13. ↑ "1time Airline". 1time holdings. Retrieved 2012-11-17.
Wikimedia Commons has media related to 1time Airline.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.