Sir Stelios’ budget African carrier is reported to have been in talks to buy a troubled airline which was grounded last weekend.
Low cost South African airline 1time ceased flying on Friday as the airline applied for business liquidation.
The rescue practitioner told South African news site News24 there was no prospect of survival after a’ potential investor pulled out’.
South African trade union Solidarity, which represents 540 workers expected to be left jobless by the airline ceasing to trade, claimed budget African airline, FastJet, was the investor.
However fastjet said it was unable to comment on this. The African budget airline launched its new branding this week, see other story.
Passengers were left stranded in Zanzibar and Zimbabwe by the failure and were told via facebook that the airline would assist them with a cash reimbursement on arrival in South Africa up until yesterday.
A statement by 1time group CEO, Blacy Komani on the website said: "It is therefore with utmost regret,disappointment and heartfelt disbelief that we have to file for liquidation which means the end of a dream and an era for all of us."
1time applied for business rescue in August.
