1TM - 1time Holdings Limited - Recent Developments at 1time
1TM
1TM
1TM - 1time Holdings Limited - Recent Developments at 1time
1time Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/017536/06)
(JSE code: 1TM & ISIN: ZAE000102026)
("1time" or "the company" or "group")
RECENT DEVELOPMENTS AT 1TIME
MERGER OF AERONEXUS TECHNICAL AND SAFAIR TECHNICAL
Shareholders are advised that the business of Aeronexus Technical (Pty) Limited,
a wholly owned subsidiary of 1time, has been successfully merged with Safair
Technical (Pty) Limited, in which 1time has a 72% interest, with effect from 1
April 2009.
SELF-SERVICE CHECK-IN COUNTERS
1time Airline (Pty) Limited has successfully launched its first Self-Service
Check-In Counters at O.R. Tambo International Airport. These will be rolled out
at other major national airports over the next few weeks.
FINANCIAL PERFORMANCE
1time Airline has achieved improved operating margins for the six months ended
30 June 2009 compared to the same period in the previous year based on lower
fuel prices and higher revenues. Passenger volumes and yields have shown good
growth despite the generally tough trading environment.
HEDGING
1time Airline has entered into a zero cost collar to hedge approximately 30% of
its fuel requirements for the three months August 2009 to October 2009 at
current oil levels and a fixed Rand/Dollar rate.
CHANGE TO THE BOARD OF DIRECTORS OF 1TIME
In compliance with section 3.59 of the Listings Requirements of the JSE Limited,
notification is hereby given that Grant Wishart has been appointed as non-
executive director to the board of directors with effect from today. The board
of 1time would like to welcome him to the board and is looking forward to a long
and valued working relationship.
8 July 2009
Johannesburg
Designated Adviser: Exchange Sponsors
Date: 08/07/2009 15:28:01 Produced by the JSE SENS Department.
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