Govt silently files for liquidation

Cabinet took a decision to liquidate Air Namibia just a day after Prime Minister Saara Kuugongelwa-Amadhila spent half a day engaging unions and the SPYL on possibly rescuing the airline.

26 February 2021 | Transport



Government on Monday silently filed for the liquidation of beleaguered national airline Air Namibia despite a massive public outcry over the matter.

Documents seen by Namibian Sun indicate that public enterprise ministry official Cleophas Kaura and Air Namibia lawyer Jerhome Tjizo filed for the company’s liquidation on Monday, the same day that Prime Minister Saara Kuugongelwa-Amadhila was engaging unions and the Swapo Party Youth League (SPYL) on the possibility of Cabinet reversing its decision.

Later that day, public enterprise minister Leon Jooste and finance minister Iipumbu Shiimi appeared on national television to explain the government’s stance, reiterating that it had become unaffordable to bail out the airline.

The two ministers did not reveal on NBC that evening that filing for voluntary liquidation had taken place earlier in the day.

Jooste did not respond yesterday when asked about the status of the airline’s liquidation. Jooste had earlier instructed interim Air Namibia CEO Theo Mberirua to initiate the liquidation process.

The assets

Air Namibia’s assets add up to N$995 million according to its liquidation filing.

· N$15.8 million in its bank accounts

· Two Airbus A319 and four Embraer ERJ aircraft are valued at N$644 million.

· Air Namibia’s vehicles, equipment, and computer hardware are valued at N$19 million.

· Head office is valued at N$22.7 million.

· Money held with the International Air Transport Association amounts to N$84 million.


The liabilities

Air Namibia’s liabilities amount to N$5.38 billion.

· The Receiver of Revenue is owed N$789 million in unpaid taxes.

· Namibia Airports Company is owed N$708 million.

· Engine manufacturers Aerospace Rolls Royce is owed N$149 million.

· German law firm Herfurth is owned N$145 million.

· Aircraft maintenance service provider Lufthansa Technik is owed N$90 million.

· The Namibia Civil Aviation Authority is owed N$76 million.

· Air traffic control service provider Asecna is owed N$73 million.

· Fuel provider Engen Namibia is owed N$22.9 million.

· The company will also pay out N$105 million to its 629 employees.

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