1Time - started by a disgruntled Comair employee, a stepping stone to something else. I rated them as equal to Nationwide - good but financially shaky. In my opinion they will be the next to go if the economy turns and fuel prices started to rise, as they will. DC9 and MD 82 time - not desirable.
MD80 time is medium jet time. Its good enough for EasyJet, Ryanair, Air Berlin, Cathay, Emirates... 1000 hours command on a medium jet is almost always better than the equivalent on a CRJ or Dash-Late. Ask the recruiters....
1Time turned a profit this year. Its a listed company, and its results are available for everyone to scrutinize (unlike the "national debt"). A closer look at the financials and you will see that 1time has sustained the highest growth rate in SA (Close to 30%), has managed to grow their fleet from the 2 planes they started with to the 9 x MD80s they currently have in the fleet (an additional 1 x MD87 has just arrived, and 2 x MD80s are arriving soon ex-Alitalia, which will take the total to 12. The 3 DC9s are going soon), have a much better gearing ratio than SAA, have purchased Safair maintenance (so they have $ based business to guard against currency fluctuations), and have won a large portion of the corporate contracts out there..
For the record, if you join now, you will not be flying DC9s. That is reserved for a lucky few (like myself
). Its a wonderful airie to fly, and I value the experience I have gained flying it.
Oil is down at $60 to $70 at the moment. The MD80 has much lower ownership costs than a NG plane, and the breakeven point is around $150 per barrel for oil before the NG starts saving money. When or if oil gets to that level, 1time will lease NG planes just like the rest of them. Why committ to high lease payments or capital loans that are very vulnerable to interest rate fluctuations when you dont have to?
Finally, one of the only airlines that has managed to survive the downturn in the USA and still maintain a healthy profit is Allegiant. Go check them out. They fly used MD80s... They cant get enough of them. Again, ownership costs (particularly the cost of credit), are just as important to look at as fuel costs. A fully owned MD80 on the ramp sitting idle (if it needs to) is not costing you money....