1Time wants new fleet.....
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According to their latest financial results (good btw!) they're planning to receive MD90 aircraft within 12-18 months.
Apparently it's part of a longer term deal still being discussed with Airbus about acquiring A320 series...the MD90s being owned by Airbus now, ex-Saudi Arabian that was traded in for A320s.
Apparently it's part of a longer term deal still being discussed with Airbus about acquiring A320 series...the MD90s being owned by Airbus now, ex-Saudi Arabian that was traded in for A320s.
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From Business Day, 24 March 2010
1time posts strong profit as airline grows volumes in shrinking market
JULIUS BAUMANN
PUBLISHED: 2010/03/24 06:53:53 AM
A STRONG performance from 1time Airline helped holding group 1time Holdings post attributable headline earnings of R82,6m in the 12 months to end- December, up from R975795 at the same time last year.
The results show a sustained recovery from the loss it reported in the six months to June 2008, when the airline was hammered by record fuel prices.
Overall revenue rose 19% to R1,251bn from R1,049bn previously, boosted by a 12% rise in passenger volumes from the airline and increased revenue from the recently acquired Safair Technical. Operating costs rose to R1,095bn from R990m last year.
“We are particularly pleased with the performance of the airline, which managed to grow volumes despite the tough economic conditions that saw the overall market contract by an estimated 7%. It was a remarkable performance to have achieved margins of close to 10%,” said 1time Holdings CEO Glenn Orsmond.
“If we can grow in a shrinking market, imagine what we can do in a growing market.”
The airline now has 12 MD-80 aircraft in the fleet and continues to expand its African network, with flights between Maputo and Johannesburg expected to be launched in the second quarter of this year . “We are just waiting for the approvals from Mozambican authorities ,” said Orsmond.
The airline is likely to begin upgrading its fleet with the addition of more modern MD-90 aircraft in the next 12-18 months. “If we can get them at the right price we will acquire them this year,” said Orsmond. The group would need two more aircraft if it gained access to Lanseria International Airport, he said.
“We have taken our complaint against Lanseria and kulula for the unfair exclusion from the airport to the Competition Tribunal and we expect to reach finalisation this year.”
While the revenue earned for aircraft maintenance — rising from R191m to R334m — was boosted by the acquisition of a 72% stake in Safair Technical, which has been merged with 1time’s Aeronexus division, earnings were low, at R4m.
“Margins were under pressure due to the initial merger costs and operating inefficiencies. However, we expect a better performance in the year ahead,” said Orsmond .
JULIUS BAUMANN
PUBLISHED: 2010/03/24 06:53:53 AM
A STRONG performance from 1time Airline helped holding group 1time Holdings post attributable headline earnings of R82,6m in the 12 months to end- December, up from R975795 at the same time last year.
The results show a sustained recovery from the loss it reported in the six months to June 2008, when the airline was hammered by record fuel prices.
Overall revenue rose 19% to R1,251bn from R1,049bn previously, boosted by a 12% rise in passenger volumes from the airline and increased revenue from the recently acquired Safair Technical. Operating costs rose to R1,095bn from R990m last year.
“We are particularly pleased with the performance of the airline, which managed to grow volumes despite the tough economic conditions that saw the overall market contract by an estimated 7%. It was a remarkable performance to have achieved margins of close to 10%,” said 1time Holdings CEO Glenn Orsmond.
“If we can grow in a shrinking market, imagine what we can do in a growing market.”
The airline now has 12 MD-80 aircraft in the fleet and continues to expand its African network, with flights between Maputo and Johannesburg expected to be launched in the second quarter of this year . “We are just waiting for the approvals from Mozambican authorities ,” said Orsmond.
The airline is likely to begin upgrading its fleet with the addition of more modern MD-90 aircraft in the next 12-18 months. “If we can get them at the right price we will acquire them this year,” said Orsmond. The group would need two more aircraft if it gained access to Lanseria International Airport, he said.
“We have taken our complaint against Lanseria and kulula for the unfair exclusion from the airport to the Competition Tribunal and we expect to reach finalisation this year.”
While the revenue earned for aircraft maintenance — rising from R191m to R334m — was boosted by the acquisition of a 72% stake in Safair Technical, which has been merged with 1time’s Aeronexus division, earnings were low, at R4m.
“Margins were under pressure due to the initial merger costs and operating inefficiencies. However, we expect a better performance in the year ahead,” said Orsmond .
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Can someone please provide me with some information about this company.
Stuff like what they are like as a company to work for, type of work done, routes (if RTP), T & C's etc.
Thank you in advance.
Stuff like what they are like as a company to work for, type of work done, routes (if RTP), T & C's etc.
Thank you in advance.
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Thanks for that D8. I am not holding my breath but just a general inquiry. 
The company looks interesting though from their web site (now that I have found more information from it
) and from the ad on YouTube they appear to have a great sense of humour.
Anyway, any further information would be appreciated.
The company looks interesting though from their web site (now that I have found more information from it
) and from the ad on YouTube they appear to have a great sense of humour.Anyway, any further information would be appreciated.
