Air Namibia to receive USD49m in government funding in FY2016

Namibia's Ministry of Finance, via its website, stated (31-Mar-2015) Air Namibia will receive NAD579.79 million (USD48.9 million) in subsidies and transfers under the Government's FY2015/16 budget. The funds will be used for business plan updates and to pay outstanding debt. The airline was allocated NAD722.38 million (USD61 million) for FY2016/17 and NAD629.59 million (USD53.1 million) in FY2017/18.