Air Namibia escapes liquidation
Air Namibia has still not repay the entire debt owed to Challengair, and relating to the rental in 1998 of a Boeing 767-300. Threatened with liquidation by the liquidator of the late Belgian transporter, the Namibian national company obtained a payment schedule.
Scheduled for Friday, January 29, before the High Court of Windhoek, after two postponements, the trial on the liquidation of Air Namibia did not finally take place. Contacted by ch-aviation, the spokesperson for the Namibian national company, Twaku Kayofa, justifies the cancellation of this hearing by the agreement reached with Anicet Baum, the liquidator of the late Belgian carrier, Challengair, a few minutes earlier. A sum of USD 24.2 million is claimed from the Namibian carrier, representing unpaid charges (including interest) for the rental and maintenance of a Boeing 767-300ER acquired in 1998. Under the terms of the agreement, Air Namibia s 'is committed to paying in installments by discharging Challengair's own debt, ie 11.9 million USD; by making a payment of $ 6 million by February 19, 2021; then proceeding with a monthly payment of 820,000 USD until January 2022.
It should be remembered that the company had already repaid approximately 1.5 million USD. As a reminder, Air Namibia had been ordered by the courts of Paris (in 2011) and Munich (in 2015) to pay 25 million euros (29.4 million USD) as compensation for unpaid debts.. In claim of this due, the representatives of the defunct company had started in January 2019, to seize funds belonging to Air Namibia, freezing part of its accounts in Europe. In a statement issued on December 18 of the same year, Air Namibia said it had reached an "amicable" arrangement with its creditors. But not having honored these commitments since then, the liquidator of Challengair introduced, last year, a request to a Namibian court to note the default of payment of the company and consequently the liquidation of the carrier.. This 23-year-old file, dragged by Air Namibia, resurfaces as the company, which operates a fleet of 10 planes and employs nearly 800 workers, accumulates a debt of more than USD 42 million with respect to its suppliers. For its recovery plan, the company needs 8 billion Namibian dollars (528 million USD). Due to the health crisis that severely eroded its cash flow last year, Air Namibia had to cut wages by up to 50% for some employees.
