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Lawyers representing defunct Belgian airline ChallengeAir moved on Friday to seize Air Namibia’s headquarters after the state carrier failed to honour a 10 million euro ($12.14 million) settlement agreement reached last month to save it from liquidation.

Advertisement: February is going from bad to worse for Air Namibia. Having had to cease operations last week, the former Namibian national airline now finds itself in a fresh spot of bother. Specifically, attempts are being made to seize the Windhoek-based carrier’s assets. The matter dates back to unpaid debt that it incurred after leasing a Boeing 767 in the late-1990s. Air Namibia had operated long-haul flights to European destinations such as Frankfurt using Airbus A330s. Photo: Oliver Holzbauer via Flickr $17 million of unpaid debts Reuters reported earlier today that a Belgian credito...

Cabinet unshaken by liquidation demos - Transport - Namibian Sun

Having spent upward of $500 million in recent years to the support Air Namibia, officials said losses were no longer sustainable at a time of economic crisis.