Before we get too excited: a feasibility study would be prudent first, it will not make any commercial sense in servicing some backwater destinations if there is zero demand for going there at the price required to make it profitable. Secondly, 1time's business model is completely different to Interair's, and reorganizing the company will cost an immense amount of money and time. Fundamentally it would be cheaper to close it and relaunch, if it even made sense to pursue that course of action anyway.
To conclude: the most pressing issue at the moment is 1time's R400M of outstanding current liabilities (which exceed current assets by approximately R295M). Anyone willing to give them a half-billion Rand bailout so they can survive to the next financial year? This of course excludes any form of financing for a fleet renewal (safe to assume that it would not be on the cards for many years to come), so all-in-all it is an almost unrescueable situation.