Confirmed - Nationwide has shut down

Efforts will be mounted to restart Nationwide which has a large labor force but prospects look bleak at this point.

The South African HVC was unable to compete with the LCCs in its market - 1Time, Mango and Kulula. Despite making a good run. The delay in resolving the BEE (Black Economic Empowerment) element at a time when cashflow was critical finally crushed the carrier.

Of the 3 LCCs - we believe that Fly Mango (supported by Government funds) with the Orange Planes and Kulula with the lime green ones are well positioned with BEE concluded. 1Time with the red planes is also BEE as required by the aviation charter. However without the support of the ZA government, it has found itself hard pressed with a gas guzzler of a fleet. Still strict adherence to the LCC model is sustaining them.