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Cash-strapped Air Namibia survived liquidation attempts by defunct Belgian flyer ChallengeAir SA on Friday when the two firms reached a 10 million euros ($12 million) settlement minutes before liquidation proceedings were due to kick off.
2021-01-30 02:05:27 GMT2021-01-30 10:05:27(Beijing Time) Xinhua English Video Player Close WINDHOEK, Jan. 30 (Xinhua) -- Financially-beleaguered Air Namibia on Friday survived liquidation attempts by defunct Belgian company ChallengeAir SA which had applied to the Namibian High Court to have the carrier liquidated. ChallengeAir SA had filed for the loss-making flag carrier's liquidation, arguing it is insolvent and unable to repay about 16.7 million U.S. dollars in debt incurred for the lease of a Boeing 767 back in 1998. Air Namibia canceled the lease agreement after it had found that...
Air Namibia could be liquidated today - Transport - Namibian Sun
2021-01-29 15:35:44 GMT2021-01-29 23:35:44(Beijing Time) Xinhua English Video Player Close WINDHOEK, Jan. 29 (Xinhua) -- Namibia's national airline, Air Namibia was operating with a flawed business model where out of the 19 routes the airline was operating in 2019, 15 were loss-making due to high structural and operating costs, an official said Friday. Namibia's Finance Minister and Chair of the Cabinet Committee on Treasury, Iipumbu Shiimi said this follows an analysis over the past months done by the government to understand the core reasons for the commercial failures. "The highest ...
Lufthansa to introduce more flights to Namibia - Transport - Namibian Sun