Ministry petitioned on sale of DC 10 and DC 9 Aircraft

A United States Aviation Company, CSDS Aviation Incorporated, has petitioned Ministry of Aviation over a decision by the official liquidator of Ghana Airways 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 was expected that the parties involved in the sale of DC 10 and DC 9 aircraft would overcome the disagreement and conclude the deal within a month.


She 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 did not deteriorate beyond repairs.


Ms Akuffo said Ghana Airways Company Limited had 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.
Ms Akuffo said CSDS Aviation Incorporated of USA, emerged winner and was offered the chance to purchase the two aircraft.


"The official liquidator accepted the offer of 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 Akuffo added.


She said CSDS had since petitioned the Ministry and the matter was being investigated and expected that the issue would be resolved soon. Ms Akuffo 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.


She 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.
GNA