South Africa
Logistics Aviation
Submit newsAdvertiseSubscribe
NewsPress Office NewsCompaniesJobsEventsPeopleMultimediaFeaturesOpinion
AdvertiseSubmit news

Industries

All industriesAgricultureAutomotiveConstruction & EngineeringEducationEnergy & MiningEntrepreneurshipESG & SustainabilityFinanceHealthcareHR & ManagementICTLegalLifestyleLogistics & TransportManufacturingMarketing & MediaPropertyRetailTourism & Travel

Features

Loeries Creative WeekBizTrendsPendoringEffie AwardsOrchids and OnionsThe Lead CreativeMore Sections..

In the news

Cape RemovalsDachserFastway CouriersEnquire about a company Biz Press Office
Agriculture
Automotive
Construction & Engineering
Education
Energy & Mining
Entrepreneurship
ESG & Sustainability
Finance
Healthcare
HR & Management
ICT
Legal
Lifestyle
Logistics & Transport
Manufacturing
Marketing & Media
Property
Retail
Tourism & Travel

News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

Submit content

My Account

Advertise with us

Trending

2 days 7 days 30 days By Industry
Search jobs
Advertise your job vacancies
    Post your Job Ad here >>

    Subscribe & Follow


    1Time's negotiations with FastJet collapsed

    Airline 1Time was negotiating with British low-cost airline FastJet before it applied for liquidation‚ trade union Solidarity said on Monday.
    9 Nov 2012

    "The company [FastJet] pulled out of the transaction at the last minute. 1Time decided to apply for liquidation as a last resort‚" Solidarity spokesman Marius Croucamp claimed in a statement.

    Spokesman for 1Time Refilwe Masemola declined to comment on the claim‚ saying "a full statement will be released today with every detail of what happened".

    FastJet is the holding company for African airline Fly540‚ which operates from Kenya‚ Tanzania‚ Ghana and Angola.

    Croucamp estimated that 540 workers would lose their jobs as a result of 1Time's liquidation.

    Croucamp says that Solidarity hopes a lifeline can be found for 1Time during the liquidation process. 1Time owes its creditors R320m in short-term debt.

    Source:Sapa via I-NET Bridge

    Read more: Solidarity, 1time, Marius Croucamp, Fastjet
    Share this article

    Source: I-Net Bridge

    For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

    We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

    Go to: http://www.inet.co.za
    TopicsNext
    Related
    Top stories
    More news
    Let's do Biz