1time finalised a USD9.2 million (ZAR65 million) agreement to sell a 25% stake in the company to Mtha Aviation and SKMT Sunrise Investment Group (Business Day, 25-Nov-2010). 1time will use the fresh capital to fund the group’s expansion and develop its facilities at Safair Technical, its maintenance division. The transaction will see 1time issuing a further 70 million shares at a price of approximately 93c a share. The stake will be held through a newly incorporated company, Oakleaf Investment Holdings, with Mtha holding a 83% stake in Oakleaf and Sunrise 17%. Oakleaf will be entitled to appoint two non-executive directors and one executive to the board of 1time. CEO Glenn Orsmond said 1time was in advanced talks with Lanseria International Airport and expects to commence services from the airport in 1H2011, adding "We have submitted our schedules and we are in the process of ironing out the final details of the agreement. We will continue to apply for rights to new African routes as they come up."
1time finalises deal to sell 25% stake in company
You may also be interested in the following articles...
Global Airport Development Conference 2016 report: Trump, Brexit, pipelines and PPPs. Part 1
The Global Airport Development (GAD World) conference was held in Lisbon, between 29-Nov and 01-Dec-2016. This CAPA report chronicles the presentations and debates that took place on the first two days, including selected ‘stream’ sessions on both days.
There was, inevitably, a political overlay to the event, with the (Jun-2016) UK referendum on continuing membership of the European Union (‘Brexit’), the (Nov-2016) election of President Trump in the US and associated ‘uncertainty’ dominating events.
Otherwise, the concern was, as always, the ‘pipeline’ of airport privatisation details, or rather the lack of them, while the hope was for the continuation of the trend towards PPP deals.
European airline seat capacity growth accelerates - perhaps too quickly: Outlook for winter 2016/17
The summer 2016 season came to an end on 29-Oct-2016. Adjusting for an extra week relative to the previous summer, it produced seat growth of 6% for capacity to/from/within Europe, matching the rate of growth in summer 2015, but higher than the 10-year average rate of 4% and higher than any other summer since 2010.
Current indications from data filed with OAG are that Europe will also experience accelerating capacity growth in the winter 2016/2017 season, which runs from 30-Oct-2016 to 25-Mar-2017. Adjusting for the season being shorter by one week relative to last winter, total seat growth in Europe is set to reach 7%, compared with 6% growth in winter 2015/2016 (and 6% growth in summer 2016). This is higher than the 10-year average rate for winter of 3% and the highest winter growth since 2007/2008.
On routes to all but one region from Europe, seat growth this winter will both be faster than last winter and higher than its 10-year average. The one exception is Europe to Middle East, the fastest-growing region, where capacity growth will remain at 10%. This report presents analysis of this winter's seat growth for Europe by region and by airline group.