Malawi Airlines Ltd has assured its customers, stakeholders and the general traveling public of the resumption of full network operation effective mid-June after the Malawi Government has bailed out the “dead” airliner which is majority owned by Ethiopian Airways.
It has not been revealed how much the majority owner has injected in the business but previously refused to inject more cash despite raiding it of over K40 billion in management fees.
Board chairperson, George Partridge said on Thursday that the bail out “follows an agreement that was reached by Malawi Government and Ethiopian Airlines to recapitalise the national flag carrier, after the Board of Directors had earlier declared the company technically insolvent”.
“The insolvency was mainly occasioned by the seven-months period the airline had no revenue when it was not in operation due to local and international lockdowns as a result of the CoVID-19 pandemic while it was still honouring significant fixed cost obligations.
“The Board of Directors applaud the shareholders for their wise and timely decision to bail out the national airline, effectively allowing the company to resume flights to destinations such as Dar es Salaam, Nairobi, Lusaka and Harare, effective mid-June 2021.”
Patridge said a detailed flight schedule can be accessed on their website www.malawian-airlines.com.
Malawi Airlines Limited is Malawi’s national carrier with shareholding by Malawi Government and Ethiopian Airlines.Follow and Subscribe Nyasa TV :