Air Malawi has been placed in voluntary liquidation by its government after two failed restructuring attempts. A new company, Air Malawi (2012), has been created that will attract an equity partner.
“The government has embarked on a process of restructuring Air Malawi primarily involving the engagement of a strategic equity partner to recapitalise the airline,” Jimmy Lipunga, chief executive officer of the country's Privatisation Commission, said in a statement.
The Malawi government will pay off the airline’s debt of over $50 million.
Air Malawi in liquidation
