Velvet Sky
latest news & developments
Aviation’s glamour undimmed
Aviation industry analysts are torn over whether there is money to be made for those who dare to tread on the runway.
Low-cost airline 1Time files for business rescue
Low-cost airline 1Time says its scheduled services will go ahead despite filing for business rescue to dig it out of R320-million of debt.
No soft landing for indebted Velvet Sky
The troubled Velvet Sky airline, which owes R100-million to creditors, has been liquidated by the Pietermaritzburg High Court.
Velvet landing for cash buyers
Velvet Sky’s licence agreement has a clause that stipulates it must set aside sufficient funds to pay back cash clients should it go out of business.
Velvet Sky’s pay now, fly later scheme
Troubled low-cost airline Velvet Sky stands accused by petrol giant BP of resorting to "desperate cash-raising measures to stave off bankruptcy".
Taxi council changes its flight plans
When big airline operators are losing money it is no wonder that the smaller guys are cautious writes <strong>Phillip de Wet</strong>.
Velvet Sky’s wings clipped for now
All Velvet Sky flights have been suspended until March 5, while the airline reconstitutes its board and balance sheet and realigns its strategy.