Sale of Ghana Airways Aircrafts Hits A Snag

Minister briefs Parliament on negotiations
Accra, Nov. 1, GNA- A United States aviation company, CSDS Aviation Incorporated, has petitioned the Ministry of Aviation over a decision by the official liquidator of Ghana Airways assets to stop the sale of two aircraft to the company.

Miss Gloria Akuffo, Minister of Aviation, in response to a question, told Parliament on Wednesday that it is expected that the parties involved in the sale of the DC 10 and DC 9 aircraft would overcome the disagreement and conclude the deal within a month. The Minister was answering a question on what immediate steps the Ministry is taking to ensure that the two Ghana Airways aircraft currently parked in the open at the Kotoka International Airport do not deteriorate beyond repairs. Ms Akuffo said Ghana Airways Company Limited has been in liquidation since June 22 2005, and the Registrar of Companies, the Official Liquidator, advertised for the sale of the assets of the company, including the aircraft and related equipment in the local and international press.

She said the liquidator received five bids from five companies, including CSDS Aviation, Lux Aerospace SA Luxembourg and Thameside Aero Space Limited, UK.

She said CSDS Aviation Incorporated USA emerged winner and was offered the chance to purchase the two aircraft.

"The official liquidator accepted the offer of the CSDS Aviation Inc. of US of 820,000 dollars for the aircraft. CSDS made a deposit payment of 50,000 dollars leaving the balance of 770,000."

"The parties however, could not agree on the inclusion of a clause requiring CSDS Aviation Inc. to insure the aircraft leading to a rescission of sale by the official liquidator and a refund of the deposit of 50,000 dollars to CSDS Aviation Inc.," Ms Akufo added.

She said CSDS has since petitioned the Ministry and the matter was being investigated and it was expected that the issue would be resolved soon. She said if the sale was concluded under the proposed sale and purchase agreement, the aircraft would be dismantled and cleaned up in line with environmental safety measures and other regulations during the evacuation process.
The Minister said, should the parties however fail to resolve their differences then the official liquidator would initiate negotiations with one of the other offers among the list of bidders.