AIRNAM N$1.2 BILLION TURNAROUND PLAN

Air Namibia will be injected with N$1.2 billion in government funds over three years as part of the turnaround plan outlined by Finance Minister Saara Kuugongelwa-Amadhila. This is double the cost that was first suggested by the minister when she tabled the Medium Term Expenditure Framework (MTEF) for 2011-14 in March. Air Namibia’s new business plan, designed with the help of the International Air Transport Association (IATA), includes buying two new Airbus aircraft at a cost of US$90 million. Kuugongelwa-Amadhila confirmed the Government would issue a guarantee so that Air Namibia can lease two more Airbuses, previously operated by Air