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Another lifeline for 1Time possible
Friday, 17 May 2013
According to a report by Business Day, the offer comes from PAKAfrica Aviation, a Pakistan-based aviation group with Middle Eastern interests in aerospace and aviation.  According to Business Day, the group is represented in South Africa by Stephen Nthite of Velvet Sky, which closed last year after only a year in operation.

According to an update to shareholders following a meeting on May 14, the offer has been received by the provisional liquidator to settle all outstanding claims of all creditors of 1time Airline Proprietary Limited.

In the notice to shareholders, the 1time board of directors said it would advise shareholders of the outcome of the offer in due course.
By : Now Media
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