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1Time granted provisional liquidation

The budget airline was granted a provisional liquidation order in the North Gauteng High Court.

1time closes shop after filing for liquidation on 2 November, 2012. Picture: Sheldon Morais/EWN.
Local

PRETORIA - Budget airline 1Time has been granted a provisional liquidation order in the North Gauteng High Court.

The application was heard on Wednesday and a liquidator will now be appointed to oversee the process.

On Friday, the low-cost carrier announced that it suspended all flights as a result of the application, which left thousands of passengers stranded countrywide.

1Time lodged the application to retain its operating licence, as it could still be sold while under provisional liquidation.

British company FastJet Plc had been interested in buying the troubled airline, but that deal fell through last week.

Meanwhile, trade union Solidarity said a number of employees now face unemployment.

(Edited by Katleho Mogase)

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