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1time shares |
Three and half years after it flew its first flight, 1Time Holdings listed on the Johannesburg Stock Exchange's AltX on the 14th August 2007. The AltX is a nursery for the stock exchange's main board, and on the 5th July 2010 1time Holdings transferred its listing from the AltX to the Travel & Leisure Sector of the JSE's main board.
At 30 June 2011, capital & reserves formed only 29% of the balance sheet.
An industrial company's finances are not conservative unless the common stock (at book value) represents at least half of the total capitalisation, including all bank debt. For a railroad or public utility the figure should be at least 30%."
Earnings depends on:
Flight prices are set at the time of booking, but the avgas required for the flight is only purchased later at an unknown future price. The price of avgas varies with the oil price, which can vary a lot.
Oil.
Being grounded.
Plane accident.
Flights from Lanseria Airport in the 4th quarter of 2011.
Exploring opportunities in various other African destinations.
"The airline aircraft fleet renewal plan is currently in progress and the Group expects to announce aircraft fleet changes during 2012 to ensure that the airline maintains its position as the lowest cost operator in the domestic industry"
"Prospects for the airline in the second half of the year
are expected to improve through higher revenues
driven by higher demand in the seasonally stronger second half and the introduction of expanded
air services. Yield and demand will be negatively
impacted by the increase in airport taxes. Margins and costs will however be driven by the
oil price. The turnaround strategy in Safair Technical is expected to achieve profitability in the second half
through higher revenue and lower costs with strong demand from third party maintenance customers."
BEE partner, Aerospace
The author is the owner of 1time shares.
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