1time Cuts Mombasa Route

 Troubled South African low-cost airline, 1time, has announced that it will halt operations between Johannesburg and Mombasa from 17 September.
 "While the debt relief process will allow 1time to continue operating while we resolve the outstanding issues and prepare to emerge as a healthier company, part of the process will be to strengthen our profitable routes and to terminate non-profitmaking destinations," said CEO, Blacky Komani.
Earlier in the week, 1Time Holdings filed for business rescue. The airline's board said it required business rescue because it was "financially distressed". The firm has about R320-million in short-term debt and has been in negotiations with creditors since March.
1Time's shares have fallen 91% over the past two years, from about 155c a share to close at 14c a share on Tuesday. In April, the company reported a R157-million loss.
 Earlier this year, another South African low-cost airline, Velvet Sky, went into liquidation after failing to convince a court that it was a candidate for business rescue.