PAKAviation Africa has clarified its plans to establish a new regional African carrier using a restructured 1Time Airline (T6) as its foundation. According to the Dubai/Pakistani-backed firm, 1Time Holdings Ltd is to be used as a housing company for assets once a controlling stake (still pending regulatory approval) is acquired.
Monday, September 9, 2013
Thursday, August 15, 2013
South Africa-based PAKAfrica Aviation has reportedly acquired a 49% stake in Zimbabwe's Central Air Transport Services (ZO) and intends to use the acquisition, in conjunction with a proposed ZAR15million (USD1.5million) buy out of defunct South African LCC, 1time (T6), to establish a regional hub out of Harare.
Monday, May 20, 2013
■ SOUTH AFRICA: Pakistan's PAKAfrica Aviation eyes majority stake in 1Time Holdings, including Jetworx.
A new potential buyer for bankrupt LCC 1Time (T4), has emerged in the form of PAKAfrica Aviation, a Pakistani aviation group, who have pitched USD1.6million (ZAR15million) for a "controlling stake" in South African firm, 1Time Holdings, owners of the LCC along with its MRO wing, JetWorx.