Fastjet to buy South African airline for seven pence
Published: 19/12/2012 - Filed under: News »
Recently-launched carrier Fastjet has agreed an option with a view to purchasing the defunct low-cost airline 1 Time for one South African rand (around seven pence).
The South African carrier went into liquidation last month, and the Stelios-founded Fastjet now plans to purchase 1 Time in order to operate domestic and regional air services to and from the country.
If the agreement goes through it would see Fastjet using up to three of the 12 aircraft in the 1 Time fleet, initially launching with domestic routes serving the cities of cape Town, Durban, Port Elizabeth and East London.
Announcing the move Fastjet’s CEO Ed Winters said:
"I am pleased we have managed to reach a provisional agreement with all parties to buy 1 Time. Due to protracted negotiations we will not have 1 Time flying before the Christmas but very much hope that 1 Time will be flying again early in the New Year.
“Flights will initially be operated by a number of aircraft from the 1 Time fleet including McDonnell Douglas MD-82s, MD-83s and MD-87s. In due course we plan to re-fleet with modern Airbus A319 aircraft.
"The acquisition of 1 Time supports Fastjet's growth into a pan African low cost carrier and the synergies with Fastjet' s existing operations will potentially increase the number of available route networks from South Africa into the rest of Africa.”
Fastjet services launched on November 29, initially operating domestic flights within Tanzania, with services to and from Uganda and Kenya “coming soon”. For more details on the carrier’s fares, baggage policies and livery, click here.
Report by Mark Caswell
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