While negotiations are in progress for London-listed low-cost airline Fastjet to acquire South Africa's 1time airline out of provisional liquidation, an offer has been made by an affiliate of the American Industrial Acquisition Corporation to buy all the shares in Jetworx, the maintenance wing of 1time Holdings, which is still trading under the protection of business rescue.

Trade union Solidarity, which has members in Jetworx as well as among former staff of 1time, welcomed the offer.

Spokesman Johan Kruger said it meant that nearly 200 Jetworx employees who would have been retrenched "could possibly retain their jobs" and 200 who had already been retrenched might be re-employed. - Audrey D'Angelo