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By Reuters Staff 1 Min Read WINDHOEK, Feb 11 (Reuters) - Debt-laden, state-owned Air Namibia has been placed under voluntary liquidation, Finance Minister Iipumbu Shiimi said on Thursday. Shiimi told reporters at a news conference that it was in the best interest of the country to file for liquidation. The government said it would pay airline employees the value of one year’s salary, over the next 12 months. (Reporting by Nyasha Nyaungwa; Writing by Tanisha Heiberg; Editing by Edmund Blair)

Air Namibia has ceased operation and all aircraft remain grounded.

On February 10, Air Namibia announced the end of its flight operations along with its upcoming liquidation. The airline plans to halt all services on February 11, marking 74 years of service.The l

WINDHOEK Government has finally pronounced that it will liquidate Air Namibia. To make sense of the announcement, Namibian Sun - through the help of analysts - unpacks the move and its consequences. Liquidation is entered into when a company is unable to meet its obligations or when its liabilities (what it owes), exceeds its assets (what it owns). Air Namibia’s voluntary liquidation simplified: · Independent registered liquidator to take control of Air Namibia so its affairs can be wound up in an orderly and fair way to benefit creditors. · Challenge Air and other creditors cannot comm...

04 February 2021 | Transport HE SAID, SHE SAID: The board of directors of Air Namibia has accused government of gross interference. PHOTO: NAMPA OGONE TLHAGE WINDHOEK Less than a week after committing Air Namibia to a last-ditch settlement agreement worth N$178 million, which the shareholder claims to not have endorsed, all four of the national airline’s board members tendered their immediate resignations yesterday. They are Escher Luanda, Heritha Muyoba, Willy Mertens and presidential pilot Alois Nyandoro. Last Friday, the board reached a last-minute settlement agreement with Belgian compa...