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1time Airline News

  • 24 Oct 2014 : At the end of last year liquidated airline 1time signed a deal to acquire 100% of Global Airways (Global Aviation Holdings Limited and Pak Africa Trade Zone Proprietary Limited). Global Airways is a British Virgin Islands-based entity who had been having their own financial problems prior to the acquisition despite the fact that they are the largest commercial provider of charter air transportation for the US military. Pak Africa divulged that they want to use 1time as a housing company to establish a new regional African carrier. Whilst no news has been released on the launch of a new African carrier Pak Africa Aviation has purchased two new aircraft which increased their value prior to audit sign-off. There have been no other changes announced to the terms of the acquisition.

  • 3 Oct 2013 : A final order to liquidate 1time Airline is granted, and their licenses have been cancelled.

  • 15 May 2013 : 1time Limited announces that:

    • "An offer of compromise has been received by the provisional liquidator in the sum of R15 million to settle all outstanding claims of all creditors of 1time Airline Proprietary Limited". It's been reported that Pak Africa Aviation made the offer. Pak Africa Aviation is based in Pakistan, has interests in the airline industry, and is represented by Stephen Nthite in South Africa (previously of Velvet Sky).

    • "A provisional liquidation order has been granted with respect to Jetworx Aircraft Service Proprietary Limited"

  • 11 September 2013. 1time Airline renews its cautionary announcement on the JSE.

15 May 2013. 1time Limited announces that:

  • "An offer of compromise has been received by the provisional liquidator in the sum of R15 million to settle all outstanding claims of all creditors of 1time Airline Proprietary Limited". It's been reported that PAKAfrica Aviation made the offer. PAKAfrica Aviation is based in Pakistan, has interests in the airline industry, and is represented by Stephen Nthite in South Africa (previously of Velvet Sky).

  • "A provisional liquidation order has been granted with respect to Jetworx Aircraft Service Proprietary Limited"

  • 14 May 2013 : At a 1time shareholders' meeting, Sipho Twala, the Chairman of 1time Holdings, reported that the IDC is finalising plans to sue 1time's previous directors for misspending a 2011 loan of R49m. According to Mandla Mpangase, the Industrial Development Corporation spokesperson, an  "audit revealed a significant breach of the funding agreement by 1time’s former executives. The audit found that funds were misapplied; paying off existing creditors — contrary to Industrial Development Corporation legal agreements. We have subsequently issued letters of demand to former 1time directors, individuals who were directors at the time the Industrial Development Corporation funding was injected." Glenn Orsmond, the former MD, replied that he first heard of this when he had already left the company and was about to set up Skywise Airline: "They (the empowerment partners) took control from the day of the investment … they approved all the monthly management accounts, they approved the expenditures, they approved everything. At no point was this issue ever raised."

Mango vs Kulula
1time flight specials

7 May 2013

Ms Tania Matsinhe has resigned as a director of 1time Holdings Limited to "pursue other business interests".

29 Apr 2013

"The board of directors of 1time (“the Board”) has decided that it would be prudent to offer shareholders a forum in which all relevant parties can discuss and assess the current status and future of 1time. The Board also notifies all shareholders that no voting will take place at this meeting, however the following agenda items will be discussed: - An update from the Chief Executive Officer with regards to 1time Airlines Proprietary Limited (“1time Airlines”), Jetworx Aircraft Service Proprietary Limited and 1time; - An update from the 1time Airlines liquidator; - 1time current and future board structure and adherence to JSE Limited’s Listings Requirements; - The future of 1time going forward; and - Shareholder feedback with regards to taking 1time forward. Accordingly, the board hereby convenes the shareholder update meeting to be held at The Country Club Johannesburg, 1 Napier Road, Auckland Park, at 10:00 on Tuesday, 14 May 2013 for the purpose as noted above."

22 Apr 2013

Aviswe Nyamara, the previsional liquidator of 1time announces that talks to sell 1time airline have failed as the offers to buy 1time were not enough, and he was applying for the date of final liquidation to be brought forward from October.

4 Mar 2013

In order to pursue other business interests, Ms Lorna Terblanche resigns as Group Financial Director of 1time Holdings Limited. Until a new person is appointed, Mr Blacky Komani (Chief Executive) will act as Group financial director.

1 Mar 2013

1time Airline's liquidation is postponed to 2 October 2013 to allow time for negotiations with Fastjet to take place.

Feb 2013

On the 12th December 2012 the Tshwane Trust, 1time's provisional liquidator, announced that 1time's liquidation deadline had been postponed from the 11th December 2012 to Feb 2013, to allow time for negotiations with Fastjet. “In terms of the status of the discussions, we are very confident we’ll reach some sort of resolution.” said Aviwe Ndyamara (1time airline's provisional liquidator)

7 Feb 2013

Mr B Topham resigns as an independent non-executive director of 1time Holdings "in order to pursue other business interests".

5 Feb 2013

"Further to the cautionary announcement dated 30 March 2012, and the subsequent renewal of cautionary announcements, the last of which was dated 20 December 2012, shareholders are advised that the Business Rescue Plan (the “plan”) for Jetworx Aircraft Service Proprietary Limited (“Jetworx”) was voted in favour of by creditors, at a creditors meeting. According to the approved plan, the American Industrial Acquisition Corporation will purchase the business from 1time holdings for R1 and pay the creditors as per the plan, which will result in creditors of Jetworx receiving 20 cents in the Rand. The 1time airline Proprietary Limited provisional liquidation is still being determined, which may have a "material effect on the price of 1time’s securities." 1time Limited

9 Jan 2013

Jetworx, the maintenance subsidiary of 1time, may be sold to AIAC (American Industrial Acquisition Corporation). “Before being placed in a process of business rescue in August 2012, Jetworx had already retrenched about 200 of its nearly 400 employees. While Jetworx was in business rescue, retrenchments were stopped for the time being. After 1time was placed under preliminary liquidation, Jetworx was however obliged to consider further retrenchments...Solidarity expressed the hope that the sale will be completed successfully and Jetworx will be able to retain its employees and prevent further retrenchments. The trade union further hopes that those employees who have already been retrenched could be given the opportunity to rejoin the company” said Solidarity spokesman, Mr Johan Kruger.

19 Dec 2012

Fastjet announces that it has acquired an option to purchase 1time airline for R1, subject to approval from the South African government and from 1time's creditors.

5 Dec 2012

People who used to work for 1time airline, march to the Department of Transport to protest against the possible granting of a license to the founders of 1time airline (they want to start Skywise Airline).

4 Dec 2012

Fastjet confirms that it is in talks to purchase 1time airline.

7 Nov 2012

The North Gauteng High Court issues a provisional liquidation order, decreeing that the return date for the order be 11 Dec 2012, when the court will rule on the final closure of the business. Aviwe Ndyamara is appointed provisional liquidator. Ndyamara's duties include engaging with all stakeholders "in interrogating various options of investment into 1time Airline (Pty) Ltd 2003/020975/07 with the objective of reviving the company & saving jobs".

See 1time Notice of Motion

See 1time Court Order

See 1time certificate of appointment

See 1time credit card refunds

6 Nov 2012

1time’s Business Rescue practitioner, Dr Gerhard Holtzhauzen, files an application for the termination of the Business Rescue proceedings, and for the airline to be placed under provisional liquidation.

3 Nov 2012

Final passenger update from 1time: "Following 1time Airline's announcement yesterday afternoon that the carrier is filing for liquidation and that it has ceased operations with immediate effect, herewith a final passenger update:

1time passengers abroad:

1time is doing its utmost to accommodate passengers stranded in Zanzibar and Zimbabwe who were supposed to fly today, tomorrow and Monday (only). This is likely to be through a cash reimbursement upon arrival in South Africa.

Passengers' recourse:

There is likely recourse for credit card purchases on the "service not delivered" basis, which allows passengers who purchased 1time tickets using their credit cards to apply for their money back from their respective banks through a "charge back". 

Nedbank statement:

The process for getting refunded is as follows for the cardholder who purchased tickets on 1time as per a statement from Nedbank which reads:

"Cardholders who have purchased flight tickets on 1time using a credit card branded with a Visa, MasterCard or an American Express logo, may contact their issuing bank for a chargeback. A chargeback is a reversal of a transaction because the goods or services that were purchased were not provided by the merchant. These card chargeback processing rules are established practices between banks that issue payment cards and banks that facilitate merchants to accept payment cards as a valid payment mechanism.

"Nedbank and American Express Cardholders may apply for a chargeback if they have purchased a 1time ticket on their Nedbank Visa or MasterCard credit card, or on their American Express card, for a flight scheduled to depart after 3pm on 2 November 2012.

"Cardholders should raise a chargeback within 60 days to allow enough time for Nedbank to validate the chargeback before we submit it to the acquirer. Nedbank advises all cardholders to follow the normal process and contact the Nedbank Call Centre on 0860 555 111."

A dispute form will be provided to the cardholder, after which the cardholder is required to submit the following documentation to Nedbank:

• The completed dispute form 
• Proof that the services were not rendered (a reference number or correspondence to this effect) e.g. Copy of the air ticket.

Contact details:

ABSA: 0861 462 273 or email disputes@absa.co.za

First National Bank: 087 575 1111

Nedbank: 0860 555 111

Standard Bank: disputes@standardbank.co.za

1time again apologises to all passengers for the inconvenience and financial losses caused and wishes to reiterate that management and staff did everything in their power to keep the airline operational to honour commitments and obligations to passengers. 

"Throughout our journey of Business Rescue we have been nothing but honest and transparant in all our dealings with you and therefore it is with regret that this is my final communique to you. In spite of malicious rumours, I wish to reassure them that 1time did not know until 3pm yesterday afternoon that the Business Rescue practitioners would shut operations with immediate effect. 

"Despite the best efforts of my management team, our nationwide employees, and myself, we were unfortunately unable to win this battle. I again wish to thank passengers for their loyalty and commitment to 1time, your unrelenting support is testimony that South Africa has lost a formidable player in the aviation industry," concludes Blacky Komani, CEO of 1time Airline."

 

2 Nov 2012

1time airline has filed for liquidation. “This afternoon at about 2.30pm, the 1time board together with the business rescue practitioners, decided to suspend services with effect this afternoon. There is nothing else to say, I'm too emotional.” said CEO Blacky Komani.

The airline flew its last flight at 15h00. Pilots and cabin crew had no idea it would be their last flight.

At 16h10 trade in 1time airline's shares was halted by the JSE.

At 16h20 the 1time website had a message saying "1time.co.za is currently undergoing scheduled maintenance. Our sincerest apologies for the inconvenience."

A SENS anouncement at 17h18 said: "It is with regret that the board of directors of 1time (“the board”) hereby advises shareholders that the Company’s main trading company and subsidiary, 1time Airline Proprietary Limited, has filed for liquidation. At the board meeting held today and in consultation with the Business Rescue Practitioner, it was recognised and agreed that the business had no reasonable prospect of being rescued. Shareholders are further advised that trading has been halted on the 1time share and the Company will make application for suspension thereof."

A message was placed on the website saying: "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). 1time's Business Rescue practitioners will be in contact with creditors and future passengers to finalise all outstanding matters."

British Airways Comair & Kulula allowed stranded 1time crew to jumpseat on their flights.

2 Nov 2012

Dear employees

After great contemplation, many hours of sleepless nights, and many vigorous rounds in the ring, it absolutely breaks my heart to let you know that 1time Airline is ceasing operations with immediate effect.

Our 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.

Unfortunately, despite our best efforts we could not find the money to recapitalise the airline. I have never been one to play the blame game but I just wish and pray that things could have been different as you have been an incredible team and I would not have wanted anyone else by my side to fight this battle.

Although 1time will soon cease 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.

As our doors are closing with immediate effect, our Business Rescue practitioner will be in contact with you to finalise any and all HR related issues.

Even though our paths will be separating here, I again want to thank you from the bottom of my heart for your unwavering loyalty, your dedication and hard work, and helping me in my fight to save our airline.

Sincerely

Blacky Komani
CEO

2 Nov 2012

JNB-Livingstone flights cease, at the same time as Fresh Air launches Johannesburg to Victoria Falls flights. Fresh Air is a joint venture between Nu-Aero and 1time.

21 Oct 2012

1time becomes the first company allowed to waive the rule that JSE listed companies must publish their results in Afrikaans and English newspapers.

5 Oct 2012

CEO, Blacky Komani, says that "Following discussions with our largest creditor, Airports Company of South Africa (ACSA), we can report that they have committed in principle to the BR process. A step towards 1time’s survival and keeping you flying high. Some more good news, all of our other creditors have indicated that 1time has their backing through the BR course of action, working together to emerge as a healthier and stronger airline."

2 Oct 2012

1time proposes that "government considers subsidising the airline industry as a whole with selected levies and taxes, and do not only offer unfair bail outs to the national carrier, South African Airways." 1time's verbatim request for assistance is follows:

  • “A reduction in the fuel levy and taxes to the Aviation industry to reduce the significant cost of fuel.”

  • “A reduction in statutory levies and taxes the likes of charges by Airports Company of South Africa, Air Traffic Navigation Services, South African Civil Aviation Authority, South African Weather Services and the likes.”

  • “These reductions in turn flow into the industry as a subsidy and benefit all and achieve the job retentions whilst supporting the consumer needs for travel and tourism.”

14 Sep 2012

1time Airline's last flight from Johannesburg to Mombasa.

31 Aug 2012

Rescue 9-1-1time

21 Aug 2012

At 17h45 1time Holdings Limited put out a SENS announcement specifying that they are applying for business rescue:

"The board of directors of 1time (“the Board”) is of the view that the Company’s operating subsidiaries, being 1time Airline Proprietary Limited and Jetworx Aircraft Services Proprietary Limited (“the subsidiaries”), are currently financially distressed, as contemplated in Chapter 6 of the Companies Act, 71 of 2008 (“the Companies Act”). However, the Board is also of the view that there appears to be a reasonable prospect of rescuing these subsidiaries from their current difficulties and is in the process of preparing a comprehensive business rescue plan. Based on this view, the Board resolved that the subsidiaries begin business rescue proceedings and be placed under supervision in terms of Section 129 of the Companies Act. The Board is of the opinion that the implementation of business rescue will afford the executive directors the opportunity to develop and implement the business rescue plan in a manner that will optimise the likelihood of the subsidiaries continuing to exist as going concerns. The resolutions were filed with the Companies and Intellectual Property Commission on Tuesday, 21 August 2012. The filing date is therefore the effective date of commencement of the business rescue proceedings as contemplated in terms of Section 132(1)(a)(i) of the Companies Act. Accordingly, 1time Airline Proprietary Limited and Jetworx Aircraft Services Proprietary Limited are now formally in business rescue. It is anticipated that following the imminent appointment of a business rescue practitioner for each subsidiary, such subsidiary will operate under the relevant practitioner’s temporary supervision for the next few months. The practitioner’s function will be to assist the subsidiary to devise a business rescue plan that will be accepted by the stakeholders. The business rescue process will allow 1time to continue to operate while it prepares and implements a plan of reorganisation – to focus on its more profitable routes and to reorganise the business financially and strategically so that it can operate efficiently and sustainably while aiming to return to profitability and to emerge as a healthier company. The subsidiaries are in the process of giving notice of the resolution and the effective date, in the manner prescribed to every affected person. Further to the cautionary announcement dated 30 March 2012, and subsequent renewal of cautionary announcements, the last of which was dated 10 August 2012, shareholders are advised that the full impact of the above application is still to be determined and may have a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until further information is provided."

5 Aug 2012

A 1time flight from Durban to Cape Town makes an emergency landing at Durban's King Shaka International Airport, after one of its engines appeared to malfunction shortly after take-off. Nobody was hurt.

3 Aug 2012

1time and Nu Aero, form a joint venture Zimbabwean low cost carrier called "Fresh Air", which will initially operate on the Johannesburg to Victoria Falls route from September (1time will stop flying to Livingstone).

Jul 2012

1time plans to have completed the removal of the front toilet from their aircraft - the toilet weighs 600kg, and its removal will save on the fuel bill. The 2 back toilets on the planes will remain.

Jul 2012

1time plans to have completed its fleet renewal program.

14 Jun 2012

J & M Equities CC has acquired a 17% beneficial interest in 1time Holdings.

2 Jun 2012

1time withdraws all flights from Johannesburg's Lanseria Airport: “We have taken the decision to consolidate all our local and regional flights from OR Tambo International Airport and concentrate on our African projects that are currently underway. Pending seasonal demand, and commercial viability of the airport, we may look at reviewing our Lanseria services in the future.” said Blacky Komani, 1time's Chief Executive Officer.

31 May 2012

A hoax bomb scare is made by a Mom who didn't want her daughter to board a 1time flight from Johannesburg to George. The Mom phoned 1time's call centre and said: "I just wanted to let you know there is a bomb in one of your aircraft".

24 May 2012

1time Holdings makes a SENS announcement on the JSE that J&M Equities CC has built up a 5.6% beneficial interest in the company.

24 May 2012

1time's share price falls from 14c to 2c a share in the day's trading. 1time CEO, Blacky Komani, asks the JSE to investigate.

26 Apr 2012

Annual results are released for the 1time share, and their auditors highlight that  "The current liabilities of the Group exceeded its current assets by R295 032 163 at 31 December 2011. The Directors` Report also indicates that these conditions, along with other matters, indicate the existence of a material uncertainty which may cast significant doubt on the group`s ability to continue as a going concern."

2 Apr 2012

Trustee Board Investments Proprietary Limited increases its beneficial interest in 1time Holdings from 11% to 17.22%

30 Mar 2012

1time updated its Lanseria flights timetable:

  • Daily flights are scheduled to leave DUR at 06h05 & 16h45, and arrive in Lanseria at 07h17 & 16h55

  • Daily flights are scheduled to leave Lanseria at 09h15 & 18h05, and arrive in DUR at 10h25 & 18h15

  • Daily flights are scheduled to leave CPT at 06h30 & 15h30, and arrive in Lanseria at 08h30 & 15h30

  • Daily flights are scheduled to leave Lanseria at 07h45 & 17h40, and arrive in CPT at 09h55 & 19h50

29 Mar 2012

1time increases the frequency of its Johannesburg - Zanzibar flights from 2 to 5 a week during the months of March, April, August, September, October & December.

“Our research shows a high demand in South Africa for low cost flights to holiday destinations in East Africa, and we therefore want to provide our passengers with increased options in this regard, particularly over prime holiday periods. We are confident that this increase in frequency will help satisfy this burgeoning demand, and significantly strengthen our position in the local low cost carrier industry. Undoubtedly, East Africa offers great potential in terms of being an enticing holiday location. Thus, we are eager to explore the possibility of connecting our passengers to other East African cities in the near future, and are currently determining the feasibility of new locations and routes.” says Mike Bond, Commercial Director of 1time airline.

27 Mar 2012

Ms Kesebone Maema is appointed as an independent non-executive director of 1time. Ms Kesebone holds a Bachelor of Arts degree, having majored in Communications and Industrial Psychology. She is the Head of Corporate Communication at the IDC (Industrial Development Corporation of South Africa), and has more than ten years " experience in advertising, public relations and the broader marketing and communications environment". Ms Kesebone has worked as a strategist in sectors including tourism, telecommunications & financial services. Her experience at the IDC has broadened her knowledge of sectors such as manufacturing, mining & media.

12 Mar 2012

Rodney James resigns as CEO of 1time Airline Proprietary Limited, and as an executive director. Michael Kaminski resigns from the Board as an executive director; Blacky Komani, CEO of the 1time Holding Company, is appointed as CEO of 1time Airline. Michael Kaminski will serve his notice period until the end of May 2012, whilst the Board looks for a replacement for him.

James later is quoted as saying: "I'm an entrepeneur. I don't like all this corporate stuff...I was thinking of resigning at the end of the month & getting out around May or June. Monday was a bit quicker than expected. The guys are wanting to to change some structures & shift the board around & stuff. I just thought, let me get out of the way now."

5 Mar 2012

1time Johannesburg - Mombasa flights commence.

5 Mar 2012

1time Lanseria - Durban & Cape Town - Lanseria flights commence.

"Lanseria Airport is a convenient option for passengers staying or operating in the northern or north-western suburbs of Johannesburg, as it provides a great alternative to OR Tambo International. The airport also presents a great opportunity to significantly increase our passenger share. We are, therefore, very excited about flying from the airport and plan to ensure that our usual high standard of service and value for money continues with our Lanseria routes. These new routes are indicative of our positive view of 2012, and demonstrate that we are growing and developing all the time. Moving forward, we are looking for further avenues to explore to make flying easy and affordable, with routes to other exciting destinations on the horizon." said Rodney James, 1time airline CEO on 5 Dec 2011.

“1time’s decision to offer flights from Lanseria International Airport has intrinsic convenience factors for existing and new customers, as the airport is close to Pretoria and several Johannesburg suburbs. Thus, its location will benefit a wide range of people, as it will ensure that our passengers now have the option of a suitable alternative to OR Tambo International Airport. We are confident that our customers will eagerly embrace the opportunity to fly with us from Lanseria, and that our Durban and Cape Town routes will quickly match the popularity of those from OR Tambo. This success will subsequently allow us to increase the number of flights on the two existing Lanseria routes and add additional routes from the airport to other destinations in South Africa and Africa.” said Mike Bond, 1time Airline's Commercial Director on 5 March 2012

1 Feb 2012

1time airline is reassessing its number of flights between Cape Town, Durban & Johannesburg; with its sights set switching to more profitable intra-regional routes. It plans to make changes in the next 3 to 6 months. "What we are trying to do is to rely less on some of the domestic routes. There is still good growth in Africa and we are looking at (cutting) routes that are highly competitive," said 1time Chief Executive Officer, Mr Blacky Komani

20 Jan 2012

1time SENS announcement: "Shareholders are referred to the announcement dated 19 September 2011 which advised that certain 1time shareholders, being the five original founding members of 1time Airline Proprietary Limited ("the founding shareholders"), had entered into an agreement with Excalibur Aerospace Proprietary Limited ("Excalibur Aerospace") whereby Excalibur Aerospace would acquire a stake in 1time through the purchase of shares from the founding shareholders. Shareholders are further advised that this sale of shares agreement has lapsed due to the failure to fulfil certain suspensive conditions timeously."

Subsequently it was reported that Excalibur Aerospace still wants to buy 1time shares - subsequent to the deal collapsing, Excalibur bought 13-million shares from 1Time shareholders, giving it a stake of about 5% "It is still our intention to acquire shares in 1Time and once we have increased our shareholding above what we have said initially (29.6%) to use the company to grow a low-cost regional carrier business." said Stephen Nthite, Chairman of Excalibur Aerospace.

1 Nov 2011

Kenneth Jarvis is appointed as an independent non-executive director & Lorna Terblanche (previously financial officer of Safair Technical) as group financial director. Ken has previously held IT positions at Momentum Life, Nedcor Bank and Amplats.

27 Oct 2011

Selemeng Mokose resigns as an independent non-executive director of 1time.

1 Oct 2011

Blacky Komani, a former Tourism SA executive, takes over as CEO from Glenn Orsmond. Orsmond cites it being "time for change" and the need for "fresh ideas, fresh thinking, more energy".

20 Sep 2011

Excalibur Aerospace purchases a 29.6% stake in 1time Holdings at 45c a share, from the 5 founding members of 1time - Rodney James, Michael Kaminski, Sven Peterson, Gavin Harrison and Glenn Orsmond. “The deal is positive for 1time Holdings as it eliminates the overhang of shares in the market, significantly strengthens the shareholder base, and gives the Group access to capital funding to fund future growth." said Glenn Orsmond, Group CEO

"We had strategy that we proposed to the board that the five founding shareholders sell out a big stake to bring in a strong shareholder, and we were approached by Excalibur. They have funding from the Middle East - we need to grow capital and they approached us and said they’d like to acquire a major stake to use 1time as a platform to go into a major African airline, eventually feeding into the Middle East as well", said Orsmond

Q3 2011

1time plans to start flying from Johannesburg Lanseria Airport in the 3rd quarter of 2011. “We have agreed in principle with Lanseria’s management to start in the third quarter, right now we are still discussing pricing and congestion at the airport. We’ll start with flights to Durban and Cape Town.” said Glenn Orsmond, 1Time's CEO on the 17th March 2011.

31 Aug 2011

1time discontinues its Johannesburg - Maputo flights, citing insufficient slots being allocated to them. They'll be using the plane on their JNB-CPT flight route. This is 1 day before Comair starts flying the JNB-Maputo route under the BA banner.

14 May 2011

The first flight of the newest Avis plane in the 1Time fleet, flying from Johannebsurg to Durban King Shaka International Airport.

1 Apr 2011

Peter Duffy, a CA, replaces Michael Snyman as financial director of 1time airline (Proprietary) Limited, who resigned. "The board of directors of 1time wish to thank Michael for his contribution to the company, including his participation in the listing of 1time on the Alternative Exchange (AltX) of the JSE, the transfer of 1time's listing from the AltX to the main board of the JSE and the successful conclusion of the recent black economic empowerment transaction. The board wishes Michael well in his future endeavours. The board has initiated the process to appoint a replacement financial director of 1time, and shareholders will be advised of the appointment in due course." 

6 Mar 2011

Mtha Aviation, Chaired by Blacky Komani and majority funded by the Industrial Development Corporation (IDC), purchase 25% of 1time for R49m at a price of 69c/share. Komani joins the airline as a non-executive director. Komani pledged his family's house and his partners in Mtha Aviation also put at risk personal collateral.

11 Nov 2010

1time announces that it has successfully negotiated and signed a R50 million Standby Equity Distribution Agreement ("SEDA") with UK based investment fund YA Global Master SPV Limited ("Yorkville").

The SEDA, which is the third such agreement to be negotiated by Yorkville with a South African company, will be in place for 32 months and provides 1time with the flexibility to access significant liquidity from time to time through the issue of new shares at its sole discretion.

In terms of the SEDA, 1time will be entitled to offer tranches of newly issued 1time shares up to a total value of R50 million to Yorkville, which Yorkville will be obliged to subscribe for.

The 1time shares will be issued in limited tranches subject to the terms and conditions of the SEDA. Yorkville`s subscription price will be calculated based on the volume weighted average price of 1time`s shares on the JSE Limited ("JSE") before the date of the advance.

Any new 1time shares issued in terms of the facility will be issued in terms of 1time`s general authority to issue shares for cash in terms of the JSE Listings Requirements approved by shareholders at the last Annual General Meeting on 4 June 2010. It will be subject to renewal of the general authority over the 32 month period.

Commenting on the agreement, Michael Snyman, Group Financial Director of 1time, said: "We are very pleased to have secured this agreement with Yorkville at this stage of the company`s lifecycle. This facility provides us with the flexibility to raise capital in tranches as and when required and will assist in our continued growth strategy."

Brian Kinane, Managing Director of Yorkville Advisors UK said: "We are excited to be working with 1time as it offers multi-faceted exposure to African aviation, 1time has a profitable business model, and clear competitive advantage. The SEDA commitment of R50 million will enable 1time to grow into its vision and enhance its ability to prudently manage financial risk."

31 Oct 2010

1time engine being foamed after its aborted take-off in JohannesburgOn Sunday the 31st October 2010, 1time airline flight 1T-119 aborted its take-off at Johannesburg's OR Tambo International Airport, after an engine failure. The plane, a McDonnell Douglas MD-82, was on its take-off roll on runway 03R, about to fly to Cape Town, when the left hand engine emitted a loud bang. The captain slowed the aircraft safely, vacated the runway and taxied towards the terminal when the tower advised that the port engine engine had released a lot of smoke. The captain parked the aircraft. Then an emergency evacuation was carried out, with 5 of the 128 passengers being placed under observation (there were no serious injuries, but a passenger claimed to have broken an arm during evacuation), whilst emergency services foamed the engine. Runway 03L was closed temporarily.

29 Oct 2010

1time SENS announceent: "Further to the cautionary announcement dated 22 September 2010, shareholders are advised that negotiations are still in progress with a potential BEE investor who has obtained approval in principal from its funder for an investment in 1time. These circumstances may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the company’s securities until a further announcement is made. Such announcement will set out the salient details of the terms of the potential transaction which may be entered into between the BEE investor and 1time. The potential transaction will require approval by 1time shareholders in general meeting. Shareholders will be notified of further developments in due course."

6 Sep 2010

1time Dec flights - 1time airline's cheapest daily flight prices in December 2010 (not an official flight special), R289 from Johannesburg to Durban.

12 Aug 2010

1time Airline's first flight from Johannesburg to Maputo (at an initial price of R672, which 1time claims is 50% lower than its competitors).

5 Jul 2010

1time Holdings transfers its listing from the AltX to the Travel and Leisure sector on the Johannesburg Stock Exchange.

Feb 2010

1time adds a 5th weekly flight from Johannesburg to Livingstone (expected to be on Saturdays).

26 Jan 2010

Gavin Harrison (COO of Safair Technical) and Sven Petersen (CEO of Safair Technical) resign as directors and employees of all companies in the 1time group. Glenn Orsmond has stepped in as acting CEO of Safair Technical until a new CEO is appointed.

Aeronexus Corporate, who's only remaining asset is an operational licence, is sold to Harrison and Petersen in exchange for a cancellation of shareholder loans owed to them (valued at R1.65m), which represented a profit to the remaining negative net asset value of Aeronexus Corporate.

1 Jan 2010

1time begins running its charter service as a division within 1time airline rather than through its subsidiary Aeronexus Corporate (Pty) Ltd (Ito avoid a duplication of overheads). All MD80 world cup charter contracts and aircraft assets are transferred from Aeronexus Corporate to 1time airline.

26 Nov 2009

1time launches Johannesburg to Livingstone flights, with an MD87 aircraft capable of carrying 130 passengers. The flight frequency is 4 times a week on Mondays, Thursdays, Fridays and Sundays. Flight prices start at R897 for a one-way flight (including taxes). 1time competes with British Airways and SAA on the route.

1 Sep 2009

1time launches 1Time Holidays.

29 Jun 2009

JHB-DUR for R309 & R419 everywhere else - 1time Confedup specials.

25 May 2009

The Advertising Standards Authority dismisses a complaint by MS LA Gnirck that she cannot obtain prices at 1time airline's advertised prices. "The main question is whether or not the respondent is able to satisfy the Directorate that the amount of tickets sold indicate that the respondent had reasonable expectation that it could fulfil the demand likely to be created by this advertisement." With 26,000 tickets sold at R395 & more than 7000 tickets at R295, the authority concluded that " The advertising therefore cannot be said to be misleading".

May 2009

Competitions are run giving away 700 Count Pushkin hampers on 1time flights.

10 Apr 2009

A 1time flight 1T829 from Johannesburg to George, which is operated on charter by Safair, makes an emergency landing near Bredasdorp at the Overberg Airforce Base after a “wing flap indication warning” (diverted to Overberg Airforce Base as it has a longer runway than George Airport).

1 Apr 2009

1time increases its Cape Town - Durban flight frequency to 3 times daily.

12 Jan 2009

Ten minutes into 1time flight 1T502 from Port Elizabeth to Johannesburg, the McDonnell Douglas MD82 aircraft emitted 3 loud banging sounds and the plane listed to her side (the plane made an emergency return to PE airport on one engine). Passengers were given a R50 meal voucher and a free return ticket on any local South African 1time flights.

7 Nov 2008

1time flight 1T607 goes off the runway shortly before takeoff from East London to Cape Town. As the aircraft got to the end of the runway and started turning the front wheels left the runway and got stuck in the grass. The plane was scheduled to leave at 1120. According to Rodney James, 1time CEO, "an 80km gust of wind caused the MD83’s nose wheel to come off the tarred portion." Passengers were forced to disembark.

1 Nov 2008

1time pioneers fashion in the sky, when models clad in Ed Hardy labels strut their stuff on a Johannesburg to Cape Town flight.

12 Oct 2008

1time runs a JNB - CPT flight special from R289, and any other route in South Africa from R389.

9 Oct 2008

1time starts hiring out Sony Playstation Portable (PSP) on some of its flights (it has 5 PSPs). The PSPs may be hired out for R60 on a flight.

12 Sep 2008

1time holdings purchases 77.5% of Safair Technical Pty Ltd (conditional on Competition Commission approval) from Ireland’s Aergo Capital for $7,15-million, to be merged with Aeronexus Technical (1time's aircraft maintenance subsidiary).

Aug 2008

Together with AIG insurers, 1time airline is offering passengers travel insurance (initially R25 per sector) to cover passengers against luggage theft & time delays (amongst other things).

1 Aug 2008

A 1time airline plane on its way from Cape Town to Johannesburg is struck by lightning and returns to Cape Town International Airport (nobody is injured).

19 Jun 2008

1time runs a R299 Joburg - Durban flight special and a R329 flight special between most other destinations in South Africa.

21 May 2008

The African National Congress (ANC) teams up with 1time airlines to offer 7.5% discounts on 1time flights for fully paid up members of its Progressive Business Forum.

29 Apr 2008

1time airline advertises May June flight specials.

4 Apr 2008

A 1time airline flight from PE to Joburg turns back after smoke pours out of the air conditioning system.

1 Apr 2008

1time airline releases its results for the year to 31 Dec 2007.

16 Mar 2008

1time flight 1T219 tries twice to take off from Johannesburg for Durban, failing both times, as a result of a compressor problem with one of the engines.

12 Feb 2008

1time and Absa plan to test in-flight banking service on certain flights between from Johannesburg and Cape Town. At first an Absa personal banker will be serving customers on flights, discussing with passengers how Absa can best serve their financial needs, deal with queries and assisting passengers in completing applications.

14 Nov 2007

1time Holding announced that it planned to obtain a 60% stake in Naturelink Aviation. Naturelink Aviation is part ly owned by Safair, a wholly owned subsidiary of Imperial Holdings.

13 Nov 2007

1time airline concludes heads of agreement with Safair in relation to the purchasing of 60% of Naturelink Aviation (Pty) Ltd.

Nov 2007

Inaugural 1time flight from Johannesburg to Zanzibar.

Sep 2007

During the July 2005 South African Airways strike, SAA and verbally agreed that they would pay 1time for helping carry their passengers, and 1time assisted by flying SAA passengers around. For this work, 1time later billed South African Airways about R1,300,000. Unfortuanately, SAA disputes this amount and only paid 1time airways R900,000. Now in September 2007, OneTime is putting in place court actions to sue SAA for the remaining money, and at the same time 1time's CEO - Rodney James - has said that 1time will no longer assist stranded South African Airways passengers.

14th Aug 2007

1Time Holdings lists on the JSE's Alt X exchange. 1Time Holdings operates 1time Airline, 1time Charters and Aeronexus Technical. With the listing, the existing 1Time owners sold 30m shares at R1 and 30m new shares were issued at R1, earning R30m for the owners and raising R30m for 1Time Holdings.

26 Feb 2004

The first 1Time flight is flown from Johannesburg to Cape Town. Initially 1Time airline flew only on the Johannesburg to Cape Town route (and only had one aircraft, a McDonnell Douglas DC-9).

Jan 2004

The first plane tickets are sold.

27 Feb 2004

Together with Gavin Harrison, Rodney James and Sven Petersen, Glenn Orsmond co-founds 1time airline. In the wake of the 9/11 crisis there were a surplus of planes on the world market to kickstart the airline. Glenn Orsmond is the chief executive and the Avstar Group own 15% of 1time. At inception, 1Time had exactly R10m capital (4 of them had R4m and managed to raise another R6m).

Aug 2003

Glenn Orsmond resigns from Comair where he'd spent 10 years. He'd previously been at the original Sun Air for 5 years, and was financial director at Comair for 8 years.

1Time Airline


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