History
The founders owned an aviation holding company, Afrisource Holdings, through which they owned Aeronexus, an aviation company that offered various aircraft services (and performed maintenance for 1time).
1time itself commenced ticket sales in January 2004, and started flying on 25 February 2004, with three daily return flights between OR Tambo International Airport and Cape Town International Airport.
The Avstar Group acquired a 15% shareholding in 1time Holdings, and under the deal the airline leased two additional 157-seat McDonnell Douglas MD-83 aircraft from the Group. In 2006 1time carried over a million passengers on services to eight destinations.
The airline is owned by Afrisource Holdings (50%), MKJH Trust (30%) and Mogwele Investments (20%) and has 420 employees (at March 2007).
1time Holdings made an IPO on the Johannesburg Securities Exchange (JSE) on 14 August 2007.
Read more about this topic: 1Time
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