Hi ChiefT and arujbagar, ajjgub, Jislaaik, I can't handle that one man. anyway, here's another bit about the new Boeing.
I got it off from
http://www.namibian.com.na/.
Wednesday, July 28, 2004 - Web posted at 9:08:15 GMT
Boeing, Boeing, GONE !
LINDSAY DENTLINGER
AT LAST! The deal has been sealed and Air Namibia's money-gobbling Boeing 747-400 Combi has been sold.
After more than two years in search of a buyer, Air Namibia yesterday breathed a jumbo sigh of relief as it signed away its biggest operational liability.
It sees the national carrier shed what has proved to be a financial albatross around its neck.
Finance Permanent Secretary Calle Schlettwein last night confirmed that the deal was clinched in London.
The contract was signed by Air Namibia's General Manager for Operations Andre Compion and technical staff of a Middle Eastern-based royal family at the Radison Edwardian Mayfair Hotel in London at around lunchtime.
The aircraft is to be modified for VIP use by the royal family.
Schlettwein described the sale as a huge relief both in terms of covering the airline's existing debts and putting an end to perpetual operational losses.
The Jumbo will officially leave Namibia in preparation for its handover to its new owners on August 31.
The financial transaction is also expected to go through at around that time.
Schlettwein said details related to the price tag of the plane would be revealed today.
"The proceeds of the sale will be used to relieve the debt on the aircraft.
That amount, plus what has been budgeted for this year will close that chapter," said Schlettwein.
Previously sources had indicated that Air Namibia stood to receive as much as US$60 million (about N$360 million at the current exchange rate) for the plane - about US$10 million short of settling its outstanding debt on the aircraft.
The sale of the Boeing is a central tenet of a Government-approved business plan aimed at the financial recovery of the national air carrier.
Government was earlier accused of stalling on giving the airline's management the green light to accept an offer of purchase.
The Boeing will continue to fly the Frankfurt route until the end of next month when an MD 11 aircraft is leased from Swissair, to take over in the interim.
The Boeing 747 is scheduled to undergo a minor maintenance check as a matter of formality at Royal Dutch Airlines (KLM) in Amsterdam before the official handover.
The plane underwent a thorough maintenance check last month in preparation for an earlier disposal date.
Air Namibia bought the Boeing Combi in late 1999 from the Boeing Company in the USA for a whopping US$114 million.
The finance agreement was entered into over a 12-year period with the Citibank, London, through a guarantee from the US Export Import Bank.
The Welwitschia took over the operation of Air Namibia's intercontinental routes from the old Boeing 747-SP which was leased from South African Airways.
However, it contributed greatly to the airline's poor financial performance with the taxpayer having to fork out N$1,4 billion over the last five years to keep the air carrier in business.
The airline was allocated N$366 million in the 2004-05 National Budget.
In the long term, Air Namibia intends to lease an Airbus A340-300 aircraft to operate its international flights, for which it already entered into negotiations last week.
The Airbus aircraft will be able to service the international routes with the same number of passengers as the Jumbo, but at a 40 per cent reduction in operational costs.
oTd
Hi again,
I was browsing after your post and thought, If you intend going to Namibia, it\'s a lovely country, but if you don\'t know Africa, maybe the following stories from there will interest you.
They are all from the Namiban.
Don\'t worry about it, just go.
Clerk of court in dock - Thursday, July 29, 2004
Messenger of Court in court - Thursday, July 29, 2004
I did not intend to kill my brother, says pipe murder accused - Wednesday, July 28,
Vandals switch traffic lights around - Wednesday, July 28, 2004
Pastor gets 10 years for raping teenager - Tuesday, July 27, 2004
Chinese locomotives head for Namibia - Tuesday, July 27, 2004
(No ETA available yet)
Toddler drowns in traditional brew - Monday, July 26, 2004
Policeman shoots dead alleged illegal fisherman - Thursday, July 22, 2004
Nujoma\'s autobiography published in Chinese - Wednesday, July 21, 2004
Man raped \'in error\' - Thursday, July 15, 2004
Man shoots off his testicles - Thursday, July 15, 2004
oTd