The Government of Namibia has announed the decision to file for the voluntary liquidation of Air Namibia. According to a media statement by Namibia's Minister of Finance, Ipumbu Shiimi, Namibia's economy can no longer afford to perpetually provide financial support to the airline at the expense of supporting economic growth and critical social services.
Air Namibia is not profitable and has not been profitable since its inception. It is estimated that so far the Government of Namibia, the sole shareholder of the airline, has spent more than N$8 billion on Air Namibia. The employees of Air Namibia will receive an ex gratia payment equal to 12 months' salary. The liquidation of the airline is expected to cost the Government of Namibia over N$2 billion.
11 February 2021
Namibia: Air Namibia goes into voluntary liquidation!
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