in Business & Finance

Air Namibia in government bailout talks

Posted 23 September 2020 · Add Comment

Air Namibia has said it is negotiating a state bailout after it reportedly requires USD11.6 million to restart the airline due to the Covid-19 pandemic.

Will Air Namibia restart? Image:  Air Namibia

 

Spokesman Twaku Kayofa told Namibia’s New Era newspaper: “At present, we are still negotiating with the shareholder about new figures, which are not yet finalised. The article is not the final position of the airline, therefore we can’t comment on its contents.”

 

He added: “Our operations have been negatively affected by COVID-19 due to the decrease in travel demand. Furthermore, the continued suspension of our regional and international flights have a detrimental effect on the airline’s already difficult cash flow position. We continue to redefine our strategy for the restart of all operations when borders are reopened eventually, notwithstanding the impact of COVID-19 on global traffic demand.”

 

The airline has so far declined to confirm details of a rescue plan.

 

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