1TIME has continued to perform well for the financial period ending June 30, 2010.
1time Holdings Limited reported increased revenue for the airline of 11% to R565 million, supported by a 4% increase in passenger numbers, higher yields and increased ancillary revenue.
The airline’s load factors improved from 80% to 82%, as the airline achieved further market share gains.
1time’s earnings, were, however, negatively impacted by an average of 12% fuel price increase and a 40% increase in airport charges.
In addition the group reports that all eight domestic routes are performing well and the African expansion plans are on track with the Zanzibar, Livingstone and Maputo routes all showing “good potential”.
Looking ahead the group’s prospects for 1time airline in the second half of the 2010 financial year remain positive, with further revenue growth expected as a result of higher volumes, although margins will be largely dependent on the average rand fuel price.
