1Time Will Retrench 15% Of Its Staff

11 Oct 2012 by Bearded Wiseman in Business

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1time CEO Blacky Komani recently said that his airline owed Acsa as much as R130 million. As part of cost cutting measures, the company will now retrench 15% of its workforce.

Writing on the 1time website about the Business Rescue measures that the airline recently sought to ease the financial burden it was dealing with, Komani remained positive about the airline’s future:

As a partner in travel, you are aware of the elements which have caused our turbulent situation. We have immediate issues to address, chiefly that of reassuring that we will emerge from this process better and more competitive than before. Our goal is to finish this process as soon as possible, and certainly within the stipulated 3 months.

The airline had known that retrenchments were something it would have to consider.

According to a report this morning, Komani said retrenchments will be necessary as part of cost cutting measures.

There is about a 30% cut in our fleet. The fixed course that goes with that has to be proportional to the number of air crafts that we are operating. Part of that involves us exiting routes that are not profitable and maintaining routes that are profitable for the airline. But should the airline grow and return to profitability we will re-employ some of the staff.

He went on to say that the staff had understood, and knew that measures such as this were necessary to save the airline.

The retrenchments will take place across the country.

[Source: SABC]

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