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National airline faces closure

Publish date: 12 August 2019
Issue Number: 836
Diary: IBA Legalbrief Africa
Category: Namibia

Namibia’s Public Enterprises Minister Leon Jooste and other government officials are negotiating Air Namibia's exit from aircraft lease agreements in the US. The move indicates the imminent closure of the national airline, which could cost the government around $166m. Jooste confirmed the trip to The Namibian, saying it had been approved by Cabinet. The trip comes two months after Finance Minister Calle Schlettwein submitted a memorandum to the Cabinet Committee on Treasury to voluntarily close down the airline, negotiate exit lease agreements and transfer the airline, including its corporate identity, to the Public Enterprises Ministry. The confidential document titled 'Non-sustainability of Air Namibia', seen by The Namibian, estimates that the airline would need $233m to continue operating in its current form for three years.

Full report in The Namibian