View Full Version : 1Time Going Public!
Just heard that 1Time Holdings, which includes 1Time Airline, Aeronexus and 1Time Charters, will be listing on the AltX board of the JSE on 14 August. Hopefully the cash injection will enable them to modernise their fleet a bit...
They forecast a 39% growth in Headline Earnings for 2007, 28% in 2008.
whiskeyflyer
22nd Jul 2007, 15:22
Business day has been full of articles for the last week regarding this listing.
click on the following
http://www.businessday.co.za/Articles/TarkArticle.aspx?ID=2897238
and
http://www.businessday.co.za/articles/bottomline.aspx?ID=BD4A519449
and
http://www.businessday.co.za/articles/economy.aspx?ID=BD4A519561 (which also deals with the LCC problems as Comair see them)
and today's Sunday Times (22/7/07) business section leading article, had details on a BEE failed buyout/holding/merge (whatever you want to call it) of 1time, and now so after the failed bid, the bidder claims he will now set up his own LCC. Sorry cannot find a link for this, maybe somebody else can. Interesting times
Deskjocky
23rd Jul 2007, 09:00
Good to see the guys at 1Time looking to expand. My question is is 30 odd mil going to go that far nowadays? Surely they should go for a bit more? If one looks back to Comair's listing, it only really got going once the institutional investors came on board. Hopefully 1Time will not experience the same début as Comair did. One gets the feeling that if a guy like Glen O had some cash to play with then things would get really interesting in the airline business in South Africa. Personally I wish the guys well, not only because I know them, but also because I know it really burns old man Novick’s ass every time he see’s a 1Time jet taking off!! Wonder how he now feels about letting them slip through his fingers….:D:D:}:}
Fliterisk
23rd Jul 2007, 12:13
Agreed... :ok: Also not sure about the amount.. .R30M will buy a couple of aircraft, hardly agressive expansion. The listing is a little weak... so much control retained by management, and really raising little money... pity for a variety of reasons!
As for Comair... that's what happens when you have a family run business and wont let go of control. You lose alot of good people. Its the price you pay for clinging onto your legacy... :=:oh::bored::}