Air Namibia to present rescue plan

Victoria
By Victoria February 13, 2013 11:13

Air Namibia to present rescue plan

Air Namibia is preparing to present a rescue plan to the Cabinet treasury committee on the short- and long-term viability of the national carrier.
The government allocated an amount of N$822 million to Air Namibia to execute its business plan during the current financial year, but the Ministry of Works and Transport had to make an additional N$257 million available to cover operational costs.
The airline will receive N$164 million during the 2013/2014 book year, which starts on 1 April 2013 but has indicated it would need an additional N$258 million to comply with its other financial obligations. This created the need for a rescue plan to be developed.

Victoria
By Victoria February 13, 2013 11:13
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