AIRNAM N$1.2 BILLION TURNAROUND PLAN

Dino D'Amore
By Dino D'Amore July 22, 2011 19:27

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 Berlin. These aircraft will be delivered in August or September, while the new aircraft of scheduled for delivery in November next year.

Dino D'Amore
By Dino D'Amore July 22, 2011 19:27
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