1time place themselves under business rescue
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Join Date: May 2012
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1time place themselves under business rescue
See report in business day live, 1time and jetworx under financial stress.
1time placed themselves under business rescue to avoid creditors placing them under liduidation.
Guys you need to pull the rabbit out the hat to get back on track. Come on sort this out!
1time placed themselves under business rescue to avoid creditors placing them under liduidation.
Guys you need to pull the rabbit out the hat to get back on track. Come on sort this out!
Join Date: Oct 2007
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From EWN, hope its not going to happen. I believe at least the staff got paid early this month. Very noble of management to make sure their staff got paid first before the creditors start scrambling.
JOHANNESBURG - South African airline 1time on Wednesday said it might have to lay off some staff as it looks to restructure its operations.
The company said it will only know in the next two months if some employees have to be retrenched.
The airline reassured the public that its customers would not be affected.
1time CEO Black Komani said restructuring is crucial to the survival of the company.
“The intention is to retain as many jobs as we can. If we continue the way we have it is going to be tough.”
According to Fin24, the 1time board believes its subsidiaries‚ 1time Airline Proprietary Limited and Jetworx Aircraft Services Proprietary Limited are financially distressed.
The airline hopes it can implement its rescue plan so the company can continue existing.
The company said it will only know in the next two months if some employees have to be retrenched.
The airline reassured the public that its customers would not be affected.
1time CEO Black Komani said restructuring is crucial to the survival of the company.
“The intention is to retain as many jobs as we can. If we continue the way we have it is going to be tough.”
According to Fin24, the 1time board believes its subsidiaries‚ 1time Airline Proprietary Limited and Jetworx Aircraft Services Proprietary Limited are financially distressed.
The airline hopes it can implement its rescue plan so the company can continue existing.
