1time airline recently released their audited financial results for the year to 31 December 2007 (these being its maiden results since listing on the 14th August 2007). In line with comments by other players in the market, 1time states that "State subsidised Mango and SAA continue to distort the market by selling below cost in an attempt to retain market share." 1time goes on to add that "The anti competitive exclusivity agreement between Lanseria Airport and Comair also retarts fair competition".
After tax-profit was R30m as opposed to the R25m predicted at listing in August 2007, whilst the operating margin had reduced from 6.6% to 6.2%.
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