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WINDHOEKNamibia's Ministry of Finance confirmed that Air Namibia reached a settlement agreement to end a court challenge.

The ministry added that Air Namibia "has been a loss-making entity since its inception and currently requires substantial amounts of money to bail it out from its current intractable debt situation".

The government spent approximately NAD8.4 billion in the last 10 years "to bail out the airline" and the ministry emphasized that the carrier has "significant debts that are unsustainable". The ministry also confirmed the impact of the coronavirus crisis will significantly increase the expected NAD7 billion cost of implementing the airline's new business plan. The pandemic has also impacted the government's ability to make adequate funding available to Air Namibia.


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