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Fastjet begins takeover 1time talks

March 18 2013 at 08:00am

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Negotiations for UK-listed African low-cost airline Fastjet to acquire 1time assets began on Friday. Fastjet said it had “very constructive meetings” with 1time’s provisional liquidator and South African authorities. Fastjet executives were in the country last week to discuss the potential relaunch of 1time, which grounded flights and filed for liquidation last November. Fastjet has an option to buy what is left of 1time. Fastjet chairman David Lenigas said he believed the solution it had proposed was beneficial for all parties involved and it hoped for a positive outcome from the talks. – Londiwe Buthelezi


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