1time Holdings - a diversified aviation group - was listed on the Johannesburg Altex Stock Exchangeon the 14th of August 2007. The company has evolved in leaps and bounds since it's inception in 2004 and is the 100% shareholder in 1time Airline, 1time Charters, Aeronexus Technical and Aeronexus Corporate. For more information on the holding company and how it is structured, please visit www.1timeholdings.co.za
1time's story is a story of courage of 4 men and then a 5th who believed in them, and all this started with a dream which realised into a reality.
Once in a while the time is just right for a good idea to manifest as a reality. The environment is ripe for a new venture to seed, take root and grow. Enterprising people of vision, if they are alert and hungry, see this potential. They act with courage and ingenuity, plant the seed, nurture it and grow it into an enterprise over which other people exclaim: "Why didn't I think of that first?"
This is what it was like for Gavin Harrison, Glenn Orsmond, Rodney James, Sven Petersen and Michael Kaminski - five entrepreneurial men with a wealth of experience in the aviation industry and a hunger to do things their way: with no nonsense integrity.
In 2003, the South African Rand was stronger than it had been for a long time; aircraft acquisition costs were still low in the aftermath of the 9/11 terror attacks; and research proved that low fare, no frills, short haul airlines had been the only successful business model for a number of years, while premium class short haul and domestic airlines were fighting for survival.
South Africa's domestic airline market carried 7.5 million passengers each year. This market was clearly over-traded with high cost seats and therefore, high airfares. The time for a sustainable, real low fare airline could not have been better. In short, South Africa's first real domestic low fare airline was beckoning to be born.
The perfect foundation was already in place. Through their aviation holding company, Afrisource Holdings, the four entrepreneurs owned Aeronexus - an aviation company that offers aircraft management, crewing and aircraft maintenance services. They realised that this would be an ideal launch pad for setting up an airline.
The team got to work and produced a business plan, that critical document necessary to raise the balance of the funding required to realise their dream. Businessmen were approached and the 50% balance of funding was very quickly taken up. Once again, perfection struck as Mogwele Investments, a black empowerment partner, took 20%, and an IT group the remaining 30%. Afrisource Holdings retained 50%. The business model was thus strengthened by diversity and IT skills - aspects without which it is virtually impossible for a modern business to succeed. The availability of key airline executives and managers, with relevant experience, to set up and run the airline, was a huge bonus.
On Thursday, 22 January 2004, 1time Airline opened for ticket sales through the Internet, its service centre, and its ticket sales counters at Johannesburg and Cape Town International Airports. 1time proudly commenced operations on Wednesday, 25 February 2004, with three return flights a day on the Johannesburg / Cape Town route. In the time since, the airline has grown from strength to strength, expanding on their initial frequency and incorporating more and more destinations.
The name 1time, is a reflection of the South African soul of the company. In South Africa, the phrase "one time!" is a colloquialism meaning "for real!"
1time was born out of a unique opportunity to launch South Africa's first genuine low-fare airline. At that time, it appeared on the surface as if there were already an airline operating in this market but, in order to qualify as an authentic and sustainable low-fare airline, a company should be set up from scratch as a low-fare model.
An important consideration was the cost of leasing or purchasing aircraft. Low aircraft values due to the 9/11 terror attacks allowed 1time to either purchase aircraft or to secure long-term aircraft leases at extremely favourable rates. This opportunity was augmented by a strong local currency.
Another key factor in the success of the business model was aircraft maintenance. Aeronexus, an aircraft maintenance company with vast experience on the aircraft types identified was ideal for 1time. Having Aeronexus within the group provides transparency and control, ensuring the highest possible quality, reliability and safety standards.
Standardising on aircraft of a single type ensures simplicity of overall operation, including a single flight crew pool. We further provide our employees with pleasant working conditions and incentive-based remuneration, ensuring motivated and productive colleagues.
1time also opted for ticketless air travel, utilising leading edge technology for our Internet bookings and service centre reservations.
1time does not offer the traditional loyalty, or frequent flyer programmes as these rip off the customer with high airfares. Food and drink is for sale on board, ensuring that only those flyers who choose to make use of these services, are liable for the costs thereof.
As 1time continues to follow the (by now) proven recipe for success, the airline continues to grow with new routes being added on a regular basis and passenger numbers growing steadily.
1time represents the first step in the transformation of privately owned airlines in South Africa. On inception of the company Mogwele Investments owned 5% of 1time Airline. They have now evolved as a 3% shareholding partner in the entire 1time Holdings group. Mogwele Investments is a black empowerment company, represented by Sipho Twala who serves on the airline's board assuming the position of chairman of the Group.
Chief Executive Officer, Glenn Orsmond, said: "1time is the first privately owned airline to commit itself to the objectives and targets set out in the Aviation Transport Charter. These objectives include a targeted 25% black empowerment shareholding. The airline is furthermore committed to consistently offering the lowest airfares to the general public to make air travel accessible to those previously denied the opportunity to travel by air."
1time thus becomes the only company in the industry that empowers not only through the diversity of its staff and its shareholders, but also through the community it serves - its passengers.
1time is extremely proud of its fleet of aircraft. We currently operate a single type of aircraft to ensure our pilots, cabin attendants and maintenance crews are specialist on our family of aircraft. The airline operates eight MD80 type aircraft. The MD80 is a stage 3 generation craft within the family of DC9 aircraft. Our high utilisation is one of the secrets to consistently offering the lowest fares.
The DC9 / MD80 family of aircraft is one of the safest and most reliable family of commercial jet airliners ever built. The DC9 / MD80 world fleet has flown well over 50 million hours. The DC-9 / MD80 was designed specifically to operate from short runways and on short- to medium-range routes. The low ground clearance puts the lower deck cargo bays at waist height, to allow loading and unloading without a conveyor or loading platform. The cockpit is designed for a two-member crew.
The passenger cabins of our aircraft are designed for optimum passenger comfort and convenience. Economy class seating is five across - an arrangement consistently preferred in passenger surveys to the six across seating in other single-aisle airliners. The MD82 & MD83, with 157 seats, and the MD87 with 132 seats - in all cases all leather - provide what we believe to be the best legroom on the South African domestic market for an economy class product.
Flight operations started on 25 February 2004, with three return flights a day on the Johannesburg to Cape Town route. 1time NOW also flies between Johannesburg and: Durban, East London, Port Elizabeth, Cape Town and George. Between Cape Town and: Port Elizabeth, East London and Durban, as continue to expand the flight schedule in terms of destinations and frequencies. Below is a route map outlining our routes and for a more comprehensive schedule please refer to our timetable.
The growth that has taken place has been beyond our expectations:
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The 10,000th passenger was carried 20 days into operation. |
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Our 100,000th passenger was carried on 27 June 2004. |
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Our 1,000,000th passenger was carried on 19 October 2005. |
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We now carry up to 120,000 passengers a month. |
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We currently operate ten aircraft in our fleet. |
We value each one of our loyal passengers and will continue to serve the 1time-family through offering a More Nice product and Less Price airfares.
When it comes to maintaining the 1time fleet of aircraft, the focus is safety and reliability. Our fleet of aircraft is professionally maintained by Aeronexus (Pty) Ltd, a subsidiary company of 1time Holdings (Pty) Ltd.
Aeronexus has extensive experience on the 1time family of aircraft, maintaining and supporting the aircraft since 1994. Aeronexus holds a South African Civil Aviation Authority Aircraft Maintenance Organisation Approval.
Aircraft maintenance is a continuous, daily operation. The work that gets carried out day in and day out goes unnoticed by our passengers, however, rest assured that the aircraft maintenance teams work 24/7, in shifts, with most of the daily maintenance being carried out at night, long after you have arrived safely at your destination.
