The demise of AirNamibia,saddens the nation.
Windhoek, Feb 12– Namibia national pride in aviation, Air Namibia has been carrying the spirit of Namibia to the rest of the world but now the journey has ended in a sad way. From February 11 2021 the management of AirNamibia ceased all AirNamibia ‘s activities and cabinet announced that the stakeholders looked at all available options to rescue the airline but all were not viable hence the government chose to liquidate the airline.
As AirNamibia goes on voluntary liquidation, its Liability stands at around 210 billion Namibia dollars while it’s assets at around 900 million Namibia dollars .
AirNamibia need over 2 billion for the termination of the Airbus A330s Aircraft lease agreement.
The misery does not end there AirNamibia owes various creditors such as Challenge Air N$180million , Namibia Airport Company N$710 million
Namibia Civil Aviation Authority N$75 Million
Ministry of Finance N$475 Million
Engine N$24 Million.
The Namibian Government has been bailing out AirNamibia for years, while the Airline has never made profit and never paid dividends to its shareholders.
Namibian people feel that government and people put in charge to run the airline have failed the Nation from the start. Government keeps on bailing the airline, but did not look at a viable way to steer the airline in a profitable way so that it can be able to look after its own business operations and be financial sustainable.