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11 February 2021 | Transport OGONE TLHAGE WINDHOEK Cabinet has approved the voluntary liquidation of Air Namibia, and a three-person board of directors has been appointed to help safeguard the airline’s assets from being attached in case of failure to pay Challenge Air N$107 million next week. Lawyer Norman Tjombe, businesswoman Hilda Basson-Namundjebo and economist James Cumming have been appointed in part to assist interim CEO Theo Mberirua in ensuring the airline’s assets are protected. “All efforts must be made to protect the assets of the company,” public enterprises minister Leo...

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...

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...