1Time hurt by low demand, high costs
1Time airline has been hurt by a combination of high costs and lower passenger demand for tickets resulting in losses for the company for the six months to June according to an article published in The Citizen.
The loss is likely to be between 12,6 cents and 13,9 cents a share. 1Time says that a 28% rise in aviation fuel prices resulted in additional costs of R56,5-million for the company during the period while poor passenger demand had seen ticket sales fall.
The group is expected to publish its full results later this week.
Read the full report in The Citizen.
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