An old debt to Belgium's bankrupt Challengair (1I, Brussels National) may eventually catch up with Air Namibia (SW, Windhoek Int'l) as the liquidator of the charter company has applied to have the cash-stricken flag carrier liquidated in the Namibian High Court. 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 … On June 4th, the President of Namibia called for the liquidation of the airline, saying that it could not continue to bail out the loss-making airline. Read more Air… Air Namibia (Pty) Limited, which trades as Air Namibia, is the national airline of Namibia, headquartered in the country’s capital, Windhoek. Tambo on October 6 and 9, 2020. "Thus, the amount of money that has not yet been utilised by Air Namibia is about NAD736 million (USD44.8 million). Considerations on whether to keep … In terms of the plan, Air Namibia had requested NAD56.9 million (USD3.4 million) to pay Challengair and other creditors. Currently they’re only operating domestic service. Mberirua explained the airline was experiencing challenges due to unflown liability. But the COVID-19 pandemic has had a disastrous impact on us, as well as other international airlines. 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. Following consistent speculation that Air Namibia is going to be 7000 Chur However, Air Namibia spokesperson Twaku Kayofa told ch-aviation: “There was no hostage of Air Namibia’s Interim CEO or anything of that kind. 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. Suffice that I record that the applicant did not respond to the said letter," he said. 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. All rights reserved. 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. Enditem find • list • buy • sell ... Africa Fishing in Namibia, Game Drive in Namibia, Hot Air Balloon, Namibia sand boarding, Quad Biking in Namibia… Quaderstrasse 8 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 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. Shiimi said the COVID-19 pandemic had impacted his government’s ability to make available adequate funding for the turnaround. Air Namibia's board rescued the national airline from being shut down on Friday. Insolvent Air Namibia thrown lifeline at eleventh hour. 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 operates scheduled domestic, regional, and international passenger and cargo services, having its international hub in Windhoek Hosea Kutako International Airport and a domestic hub at the smaller Windhoek Eros Airport. Air Namibia was due to have re-appeared in the Windhoek High Court on Friday morning 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 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). We must do something about it." The Namibian High Court, on July 9, 2020, set aside the suspension of Air Namibia’s scheduled air service licence after the struggling carrier was grounded on July 8 when the Transportation Commission of Namibia suspended its scheduled air services license (ASL), saying the airline was financially unable to provide safe and reliable commercial flights. 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 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. However, several payments were not made in full, while another had been delayed. This leaves the carrier in a … 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. Amongst the matters that were discussed was the 13th cheque due to be paid by the employer to the employees. “Crucially, the (Air Namibia) chairperson, post and present acting Chief Executive Officer and the legal officer have since acknowledged to Mr Shali that (the airline) is unable to pay its debts as they fall due,” Challengair said. Remboursement. "We have deposited an amount with ISS which normally covers all accounts including refunds. Namibia’s Minister of Finance and Chairperson of the Cabinet Committee on Treasury, Ipumbu Shiimi, in a statement, said implementing a turnaround plan for the cash-stricken flag carrier would cost taxpayers significantly more than NAD7 billion Namibian dollars (USD461.6 million), after already spending NAD8.4 billion (USD554 million) in the past 10 years to bail out the airline. On the same day, Namibian President Hage Geingob called for its liquidation as an alternative to further bailouts. ch-aviation GmbH 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. The Namibian newspaper reported that several staff members, disgruntled over unpaid bonuses, refused to let Mberirua leave his office last week. THE financially troubled Air Namibia is opposing a High Court application in which a Belgian lawyer wants the national airline to be declared bankrupt and liquidated. Firstly, Air Namibia was bailed out, bailed out. The state-owned airline currently operates four Airbus narrowbodies, two A330s, and four small regional jets that seat 37 passengers each. Financially-beleaguered Air Namibia on Friday survived liquidation attempts by defunct Belgian company ChallengeAir SA which had applied to the Namibian High Court to … If liquidation is effected, Luanda warned that 644 Air Namibia employees would lose their jobs and many cross-default debts owed by Air Namibia will kick in. ASATA had been informed according by Juan Antonio Rodriguez, IATA's Director Financial Distribution Services Operations. Want to Fly to Namibia? This comes as the airline prepares to re-appear in the Namibian High Court in the capital Windhoek on December 1, 2020, to defend an... Want to receive the latest aviation news delivered right to your mailbox every week? Air Namibia … AIR Namibia's board rescued the national airline from being shut down on Friday. It is further worth noting that currently, Air Namibia has significant debts that are unsustainable,” he said. 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. © 1998-2021 ch-aviation GmbH. 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. 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. 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). Namibia’s state-owned airline faced a debt pile closure and suspended all flights throughout its route network in March 2020. 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. 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). 30 October 2020. The Windhoek-based carrier during normal times flies within Africa and to Europe. Although the airline does not own the aircraft, Challengair can pursue the fuel they take on board in Germany effectively grounding the aircraft there. Meanwhile, The Namibian reports that Air Namibia acknowledged in a settlement agreement with Baum in December 2019, that it owed Challengair EUR18.2 million (USD21.4 million), which it undertook to repay in instalments until September 2021. Jooste confirmed this when approached for comment on news that Air Namibia … Namibia’s State carrier, Air Namibia, is facing possible liquidation after a streak of losses and government bailouts. The country is four times the size of Britain yet with only 2.5 million people. Find Insolvency And Liquidation In Namibia online - My Namibia. 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. Last week, Namibian President Hage Geingob called for its liquidation. 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. Air Namibia to resist liquidation News - National | 2020-10-07 Page no: 1 by Charmaine Ngatjiheue. 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. In another judgment in July 2011, Air Namibia was ordered to pay another USD13 million in interest on the outstanding debt. 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. All operations are ongoing, and the airline is servicing its routes as per the published schedule,” he said. WINDHOEK Belgian company Challenge Air SA, through local lawyer Sisa Namandje, has applied to the Namibian High Court for the liquidation of Air Namibia this week. Air Namibia connects Namibia to the world with daily flights to Europe and many other African destinations. The discussion was fruitful, and employees received their 13th cheque (a monthly saving for staff) last week, Friday, November 27, 2020. Air Namibia would not tell local outlets why it had suddenly dropped its planned international charters. - 01.02.2021 - 07:39 UTC. 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 … In the past two decades, the Namibian Government has given the carrier … It is not making any profits and it is just being bailed out. Meanwhile, almost half of Air Namibia’s workforce have had their salaries slashed in half for three months until November 2020. Windhoek, Jan. 30，2021 — Financially-beleaguered Air Namibia on Friday survived liquidation attempts by defunct Belgian company ChallengeAir SA which had ap Cash-strapped Air Namibia reaches settlement before liquidation … Namibia: Air Namibia Liquidation Application Postponed. Once liquidated, … 30 October 2020 . Late last year, the Namibian government provided a guarantee of NAD578 million (USD34.9 million) to allow the national airline to borrow money from commercial banks and keep Challengair from effectively attaching two Air Namibia A330-200s leased from Castlelake and used on the Frankfurt Int'l route. On June 4th, the President of Namibia called for the liquidation of the airline, saying that it could not continue to bail out the loss-making airline. New Era (Windhoek) By Roland Routh. "The liquidation … The matter had already been postponed from October 2020. … Money-strapped Air Namibia survived liquidation makes an attempt by defunct Belgian flyer ChallengeAir SA on Friday when the 2 © 1998-2021 ch-aviation GmbH. The Namibian newspaper reported that several staff members, disgruntled over unpaid bonuses, refused to let Mberirua leave his office last week. 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. En temps normal, l’article L. 211-4 II du Code du tourisme prévoit que les personnes ayant souscrit un voyage à forfait ont droit à un remboursement intégral des paiements effectués en cas d’annulation en raison de circonstances exceptionnelles et inévitables. 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). 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 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 … This comes as the airline prepares to re-appear in the Namibian High Court in the capital Windhoek on December 1, 2020, to defend an... Want to receive the latest aviation news delivered right to your mailbox every week? 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 … feedback@ch-aviation.com, To access our news database including full archive search and exclusive stories reported first by ch-aviation you need to upgrade to ch-aviation. All operations are ongoing, and the airline is servicing its routes as per the published schedule,” he said. However, the airline was able to circumvent the liquidation process by reaching an out-of-court settlement with the creditors on Friday, January 19. An application to wind up Air Namibia brought by Sisa Namandje on behalf of … Air Namibia (SW, Windhoek Int'l) has had another reprieve from liquidation after the Namibian High Court in Windhoek on October 29, 2020, postponed the case to December 1, 2020, on a legal technicality to allow the merits of the case to be heard, reports EagleFM. The application is scheduled to be heard on October 26, 2020, confirmed Sisa Namandje, Director of Windhoek law firm Sisa Namandje & Co, who is presenting Challengair's Belgium liquidator, Anicet Baum. 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 decision was made without the blessing of the Ministry of Public Enterprises or the Cabinet, which both support the liquidation of the national carrier. 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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. The future of loss-making Air Namibia (SW, Windhoek Int'l) continues to hang in the balance with the Namibian government due to make a decision on the fate of the carrier in the coming days after revealing it cannot adequately fund its turnaround, nor find any investors. Namibian President, Hage Geingob, in June 2020 called for Air Namibia’s liquidation, saying his government could no longer bail out its flag carrier. Air Namibia (SW, Windhoek Int'l) has had another reprieve from liquidation after the Namibian High Court in Windhoek on October 29, 2020, postponed the case to December 1, 2020, on a … Read more Air… Windhoek's Allgemeine Zeitung reported that Chief Executive Officer Theo Mberirua admitted the decision would affect Air Namibia but gave assurances that local flights would be unaffected and that the ban would only have a limited effect on regional flights. "Air Namibia made a similar proposal to the applicant on March 25, 2020, for revised payment terms. Staff Reporter INSTEAD of liquidating Air Namibia, the national airline will be restructured to serve the best interests of Namibia. This followed a notice filed by the country's Public Enterprises Ministry on December 1 that the government... Air Namibia (SW, Windhoek Int'l) has denied news reports of a hostage drama involving its interim Chief Executive Officer Theo Mberirua as the cash-stricken flag carrier faces liquidation in the country’s High Court. Mberirua said the restart of operations had been heavily impacted by a lack of funds to pay critical creditors and salaries. The airline currently operates only three out of six domestic routes (Eros to Ondangwa, Caprivi, and Rundu). ch-aviation GmbH Money-strapped Air Namibia survived liquidation makes an attempt by defunct Belgian flyer ChallengeAir SA on Friday when the 2 corporations reached a ten million euros ($12 million) settlement minutes earlier than liquidation proceedings have been as a consequence of kick off. feedback@ch-aviation.com, To access our news database including full archive search and exclusive stories reported first by ch-aviation you need to upgrade to ch-aviation. The airline rented Namibian $ 253 million (R253m) for an aircraft leased over 20 … Namandje declined to comment further as the matter was sub judice. 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 … We must do something about it." 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 liquidation case settled out of court 29.01.2021 - 09:41 UTC. None of the airlines simply pay back - in fact, IATA initially advised us to issue vouchers for the future, but ultimately the liability increases inexorably as the travel industry remains paralyzed by the COVID-19 measures taken.". Drastic losses President wants Air Namibia to be liquidated The national airline of the African country has been operating for years only thanks to bailouts by the state. The future of loss-making Air Namibia (SW, Windhoek Int'l) continues to hang in the balance with the Namibian government due to make a decision on the fate of the carrier in the coming days after revealing it cannot adequately fund its turnaround, nor find any investors. 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. We have a very serious problem in Air Namibia. Air Namibia has not been very profitable recently. However, Air Namibia spokesperson Twaku Kayofa told ch-aviation: “There was no hostage of Air Namibia’s Interim CEO or anything of that kind. He continued that costing Air Namibia’s new business plan compared to the cost of liquidation showed that implementing the new business plan would amount to more than N$7 billion, which would actually be significantly higher due to the impact of Covid-19. Switzerland, Phone: +41 (0) 44 508 47 07 - 01.02.2021 - 07:39 UTC. INTERNATIONAL - Namibia's flagship airline, Air Namibia is now in a state of insolvency, a company official told Xinhua on Wednesday. The government also had been unable to attract a strategic partner... Editorial Comment: Updated with comment from Public Enterprises Minister Leon Jooste. Air Namibia terminated the agreement after discovering the aircraft was defective. The matter at hand was an engagement between the Interim CEO and Air Namibia employees. Air Namibia was due to have re-appeared in the Windhoek High Court on Friday morning 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. Of this amount, Challengair will be paid the outstanding monthly instalments set out in the settlement agreement," he said. 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 … The airline needs NAD8 billion (USD484.2 million) to carry on as a going concern, but has failed to produce financial reports in recent years, a requirement of Namibia’s Air Services Licensing Act. To date, the airline had paid EUR8.2 million euros (USD9.6 million). Air Namibia has been operating limited scheduled domestic services since May 6, but has not operated commercial international flights despite the country opened its international borders on September 1, 2020. One thing going for the liquidation of Air Namibia is that it is not a large airline. 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. According to data from Planespotters, the airline only has nine aircraft in its fleet comprised of … The case had already been postponed twice from December and October 2020 respectively. New Era (Windhoek) By Roland Routh. Windhoek, Jan. 30，2021 — Financially-beleaguered Air Namibia on Friday survived liquidation attempts by defunct Belgian company ChallengeAir SA which had This amount is sufficient to pay Air Namibia's debt claimed by the applicant," he said. CAPA publishes more than 400 global News Briefs every weekday, covering all aspects of the aviation and travel industry. The case had already been postponed twice from December and October 2020 respectively. If the president has the courage to go through with the liquidation … It was scheduled to operate charter flights to Johannesburg O.R. 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. All rights reserved. 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Is sufficient to pay Air Namibia, the amount sought by Baum along with restart! To unflown liability covering all aspects of the aviation and travel industry reaching an out-of-court settlement s President his... Officer Theo mberirua denied the airline liquidation in Namibia online - My Namibia newspaper the... To Johannesburg O.R Executive Officer Theo mberirua denied the airline was able to circumvent the liquidation process reaching. Covid-19 pandemic has had a disastrous impact air namibia liquidation us, as well as international. Amongst the matters that were discussed was the 13th cheque due to restart full operation again at the of. A disastrous impact on us, as well as other international airlines aérienne Namibia... Salaries slashed in half for three months until November 2020 route network in March closure and suspended flights... Reporter INSTEAD of liquidating Air Namibia Namibian President calls for flag carrier ’ s niche as a short-haul is. 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