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 […] Cash-strapped Air Namibia survived liquidation attempts by defunct Belgian flyer ChallengeAir SA on Friday when the two firms reached a 10 million euros ($12 million) settlement minutes before liquidation proceedings were due to kick off. Read more Air… Air Namibia spokesperson Twaku Kayofa confirmed the airline had agreed to pay a historical debt to the bankruptcy estate of defunct Belgian carrier Challengair (1I, Brussels National). Cash-strapped Air Namibia survived liquidation attempts by defunct Belgian flyer ChallengeAir SA on Friday when the two firms reached a 10 million euros ($12 million) settlement minutes … This negatively affected the cash flow of the airline, “to the extent that continued domestic operations are jeopardised,” he said. ch-aviation GmbH According to data from Planespotters, the airline only has nine aircraft in its fleet comprised of … Photo: Air Namibia Namibian President calls for flag carrier’s liquidation . In terms of the plan, Air Namibia had requested NAD56.9 million (USD3.4 million) to pay Challengair and other creditors. The airline currently operates only three out of six domestic routes (Eros to Ondangwa, Caprivi, and Rundu). Air Namibia chairman Escher Luanda said on Wednesday that if liquidated, the airline -- which owns two Airbus A319 jets and four Embraer 135 regional jets -- would get little in return for its assets. Shiimi said the COVID-19 pandemic had impacted his government’s ability to make available adequate funding for the turnaround. He confirmed to ch-aviation that Challengair's application follows on Air Namibia's failure to pay monthly instalments on a settlement of NAD400 million Namibian dollars (USD24.2 million) to Challengair. The Belgian liquidator claimed that Air Namibia had no means of honouring its debts and thus had sought the assistance of the courts to have the company wound up. According to the settlement plan, Air Namibia has agreed to pay the estate of... Namibia's High Court has again postponed a case in which Air Namibia (SW, Windhoek Int'l) is facing liquidation over a historical debt of USD24.2 million to the bankruptcy estate of defunct Belgian carrier Challengair (1I, Brussels National). INTERNATIONAL - Namibia's flagship airline, Air Namibia is now in a state of insolvency, a company official told Xinhua on Wednesday. He said the Namibian parliament had earmarked NAD984 million (USD59.9 million) in the current financial year for Air Namibia, of which the airline had only used NAD248 million (USD15.1 million). Financially-beleaguered Air Namibia on Friday survived liquidation attempts by defunct Belgian company ChallengeAir SA which had applied to the Namibian High Court to … Namibia: Air Namibia Liquidation Application Postponed. An application to wind up Air Namibia brought by Sisa Namandje on behalf of … Air Namibia’s niche as a short-haul airline is reasonable. Air Namibia (Pty) Limited, which trades as Air Namibia, is the national airline of Namibia, headquartered in the country’s capital, Windhoek. New Era (Windhoek) By Roland Routh. CAPA News Briefs. Namibia's High Court has again postponed a case in which Air Namibia (SW, Windhoek Int'l) is facing liquidation over a historical debt of USD24.2 million to the bankruptcy estate of defunct … 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 … It claimed Air Namibia’s liquidation was in the public interest as the airline was in “deep commercial insolvency” and that government assistance was not forthcoming. "Thus, the amount of money that has not yet been utilised by Air Namibia is about NAD736 million (USD44.8 million). - 01.02.2021 - 07:39 UTC. Namibia's High Court has again postponed a case in which Air Namibia (SW, Windhoek Int'l) is facing liquidation over a historical debt of USD24.2 million to the bankruptcy estate of defunct Belgian carrier Challengair (1I, Brussels National).. Air Namibia … Quaderstrasse 8 The Namibian state-carrier has to date paid EUR8.2 million euros (USD9.6 million) of the EUR18.2 million (USD21.4 million) it still owes to Challengair. Mberirua explained the airline was experiencing challenges due to unflown liability. La pandémie de COVID-19 a accentué les difficultés de l’entreprise qui avait déjà demandé, il y a plusieurs mois, une aide financière de Windhoek. Namibia’s state-owned airline faced a debt pile closure and suspended all flights throughout its route network in March 2020. INTERNATIONAL - Namibia's flagship airline, Air Namibia is now in a state of insolvency, a company official told Xinhua on Wednesday. Currently they’re only operating domestic service. The matter at hand was an engagement between the Interim CEO and Air Namibia employees. The President of Namibia, Hage Geingob, has called for the liquidation of flag carrier Air Namibia: "Air Namibia must be liquidated, we have a serious problem with Air Namibia. All operations are ongoing, and the airline is servicing its routes as per the published schedule,” he said. The Namibian newspaper reports the matter was postponed at the request of Air Namibia to give both parties time to reach an out-of-court settlement. 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Air Namibia spokesperson Twaku Kayofa confirmed to ch-aviation the case, which was due to have been heard in the Windhoek High Court on December 1, 2020, was postponed to January 29, 2021. Insolvent Air Namibia thrown lifeline at eleventh hour: Cash-strapped Air Namibia survived liquidation attempts by defunct Belgian flyer ChallengeAir SA on Friday when the two firms reached a 10 million euros ($12 million) settlement minutes before liquidation proceedings were due to kick off. Le président de Namibie Hage Geingob a annoncé son intention de liquider la compagnie aérienne Air Namibia. Of this amount, Challengair will be paid the outstanding monthly instalments set out in the settlement agreement," he said. This amount is sufficient to pay Air Namibia's debt claimed by the applicant," he said. But the COVID-19 pandemic has had a disastrous impact on us, as well as other international airlines. However, several payments were not made in full, while another had been delayed. A Namibian High Court case in which Air Namibia (SW, Windhoek Int'l) faced being liquidated was settled out of court on January 29 before proceedings commenced, the airline confirmed to ch-aviation. The discussion was fruitful, and employees received their 13th cheque (a monthly saving for staff) last week, Friday, November 27, 2020. Only NAD983 million (USD59.4 million) has been made available to the airline in the last Namibian government budget, representing only 12% of the amount needed. The Windhoek-based carrier during normal times flies within Africa and to Europe. The airline has given notice that it will be opposing an application for its liquidation, … To date, the airline had paid EUR8.2 million euros (USD9.6 million). Air Namibia liquidation case settled out of court 29.01.2021 - 09:41 UTC. Air Namibia liquidation application postponed 2020-10-30 Roland Routh An application to wind up Air Namibia brought by Sisa Namandje on behalf of the defunct Belgian aviation firm Challenge Air will be heard on 1 December for the merits after lawyers agreed the matter is urgent. For the past 10 years, about 8.4 billion Namibia dollars was spent to bail out the local airline, Shiimi said. Some may say that liquidation has been a long time coming for Air Namibia, who has struggled to make profits and is ten years late on posting any financial results. The airline rented Namibian $ 253 million (R253m) for an aircraft leased over 20 … However, Air Namibia spokesperson Twaku Kayofa told ch-aviation: “There was no hostage of Air Namibia’s Interim CEO or anything of that kind. AIR Namibia's board rescued the national airline from being shut down on Friday. Air Namibia committed to settling a controversial debt of 9,8 million euro (about N$180 million) to Belgian company Challenge Air's liquidator, lawyer Anicet Baum, who was … It was scheduled to operate charter flights to Johannesburg O.R. The matter had already been postponed from October 2020. Namandje declined to comment further as the matter was sub judice. Domestic flights between Windhoek Eros and Walvis Bay were scheduled to restart on October 7. Air Namibia terminated the agreement after discovering the aircraft was defective. Windhoek, Jan. 30，2021 — Financially-beleaguered Air Namibia on Friday survived liquidation attempts by defunct Belgian company ChallengeAir SA which had The country is four times the size of Britain yet with only 2.5 million people. The cash-stricken national carrier was to re-appear to defend an application to have it liquidated filed by Anicet Baum, the Belgian liquidator of Challengair, relating to overdue monthly payments of a settlement of NAD400 million Namibian dollars (USD24.2 million) following a longstanding dispute over the lease and maintenance of a B767-300(ER) in 1998. Air Namibia's board rescued the national airline from being shut down on Friday. A Namibian High Court case in which Air Namibia (SW, Windhoek Int'l) faced being liquidated was settled out of court on January 29 before proceedings commenced, the airline confirmed to ch-aviation.. Air Namibia spokesperson Twaku Kayofa confirmed the airline had agreed to pay a historical debt to the … Air Namibia grounded all international flights not already wiped out by the coronavirus after the country’s president, Hage Geingob, said the state carrier should be … The turnaround plan for Air Namibia that minister of state-owned enterprises Leon Jooste submitted to the cabinet committee on the treasury last week does not propose liquidating the airline. “Air Namibia has been a loss-making entity since its inception and currently requires substantial amounts of money to bail it out from its current intractable debt situation. The Namibian Sun reported that Challengair in 2008 had obtained a judgment from a German court, which ordered Air Namibia to pay it USD6.5 million for unpaid rent, maintenance and insurance of the aircraft. Challengair also alleges Air Namibia had informed a local representative appointed to act as a go-between, Willem Shali, that it was unable to settle its debts. According to the settlement plan, Air Namibia has agreed to pay the estate of... Namibia's High Court has again postponed a case in which Air Namibia (SW, Windhoek Int'l) is facing liquidation over a historical debt of USD24.2 million to the bankruptcy estate of defunct Belgian carrier Challengair (1I, Brussels National). The decision was made without the blessing of the Ministry of … The airline is opposing an application in which Anicet Baum, the Belgian liquidator of defunct Challengair (1I, Brussels National), seeks to have the cash-strapped national carrier liquidated, alleging it had failed to honour monthly instalments on a settlement of NAD400 million Namibian dollars (USD24.2 million) to Challengair. In a letter quoted by Reuters, Air Namibia Acting Chief Executive Theo Mberirua said only 57% of the airline’s 800 staff had worked in the past six months. We must do something about it." Air Namibia spokesperson Twaku Kayofa confirmed to ch-aviation the case, which was due to have been heard in the Windhoek High Court on December 1, 2020, was postponed to January 29, 2021. He said the airline had arranged reviewed payment terms with certain creditors because of the COVID-19 crisis. “The financial losses incurred by the airline over the previous five financial years have left (it) in a state requiring immediate intervention on all fronts,” he said, adding that fixed cost (including aircraft leases, maintenance cost, salaries, and fuel) far exceeded the revenue generated over the same period. Kayofa confirmed reports that the lawyers representing both parties had informed the presiding judge that they had reached a settlement minutes before court proceedings commenced. 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