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AIR NAMIBIA FILES FOR VOLUNTARY LIQUIDATION

... 7 billion NAD (US $ 481.43 million) for another financial restructuring. The airline faced financial difficulties many years ago due to growing debts that could no longer be serviced. However, the crisis in the company came at the beginning of the Covid-19 pandemic. Due to declining demand for flights and inability to maintain proper flight schedules during the pandemic, Air Namibia was unable to generate the required revenue to cover its operating costs. At the moment, all flights of the airline have been canceled. The government said it would pay 644 Air Namibia employees an annual salary over the next 12 months.

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