1Time liquidators seek a win-win result

Tshwane Trust says it is doing everything in its power to save 1Time, for the sake of its creditors.

Airline 1time. Picture: KaliwiseOnline.com

JOHANNESBURG - 1Time Airline's provisional liquidator Tshwane Trust on Wednesday said a possible deal with a United Kingdom low-cost carrier did not mean creditors and passengers would get all their money back.

The deadline for 1Time's final liquidation has been postponed to February next year, pending negotiations with Fastjet, which wants to buy the airline.

Thousands of 1Time passengers were stranded when the company went under in November.

Tshwane Trust said it was doing everything in its power to save 1Time for the sake of the airline's creditors and passengers.

But 1Time provincial liquidator Aviwe Ndyamara said if Fastjet were to buy 1Time, some compromises would have to be made.

"It depends on details of the deal. If all stakeholders do come to the party, and we're confident at this stage that all stakeholders want this, there will be a compromise."

Ndyamara said negotiations were going well and that they were hoping to reach a resolution soon.

1Time CEO Blacky Komani said he cannot comment on anything related to the liquidation.