fastjet files letter of intent with 1Time liquidators

fastjet has filed a letter of intent with the liquidators of 1Time in Johannesburg, South Africa, to enable the liquidators to negotiate a compromise settlement with the creditors. This is a major step towards the acquisition of 1Time and the launch of fastjet flights in South Africa.

fastjet chief executive officer Ed Winter said: "fastjet is really excited about the opportunity to serve the South African air travel market and this is a very significant step towards making that a reality."

The low-cost carrier continues to explore alternative partnerships to launch fastjet in South Africa which will be available if a satisfactory compromise cannot be negotiated with the 1Time creditors.