Ghana Airways' Assets Up For Grabs

The assets of Ghana's bankrupt national flag carrier - Ghana Airways - is up for grabs. An advert appeared on 25th February 2006, in the Economist, publicizing the sale of Ghana Airways Limited's Assets.

PriceWaterhouse Coopers, an accounting firm, is responsible for the sale.

Offers to purchase the valuable assets in possession of now defunct airline were expected by the 31st March 2006. Up for sale were the airline vehicles, Aircraft equipment, land and buildings.

The buildings up for sale are based in Ghana, Sierra Leone and the United Kingdom. Thirteen buildings are in Ghana with seven of them in Accra.

Two aircrafts and aircraft equipment - engines and other spare parts - and all vehicles in Ghana and elsewhere are for sale. These include saloon cars, pick-ups and buses.

The offer was open to both Ghanaian and overseas buyers, but no Ghanaian media outlet was involved in advertizing the offer.

SALE OF GHANA AIRWAYS LIMITED?S ASSETS

Application deadline: Friday, 31st of March, 2006

GHANA AIRWAYS LIMITED (?GH?) - IN OFFICIAL LIQUIDATION

SALE OF GHANA AIRWAYS LIMITED?S ASSETS

GHANA AIRWAYS LIMITED (?GH?) - IN OFFICIAL LIQUIDATION

Following the invitation of offers for GH assets, the Official Liquidator wishes to extend the deadline for the submission of offers for the following GH assets to 12 noon Friday 31 March 2006
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??????? Aircraft and related equipment
??????? Land and buildings
??????? Vehicles
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Aircraft and related equipment
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GH?s aircraft and related equipment comprise the following:
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?????????? DC9 aircraft (1)
?????????? DC10 aircraft (1)
?????????? Aircraft engines
?????????? Auxiliary Power Units (APU)
?????????? Rotables
?????????? Spares and consumables
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Land and buildings
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The company has residential and office properties as well as undeveloped land at the following prime locations:
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?????????? London, UK
?????????? Freetown, Sierra Leone
?????????? Airport Residential area, Accra
?????????? Cantonments, Accra
?????????? Labone, Accra
?????????? Roman Ridge, Accra
?????????? Castle Road, Accra
?????????? Kisseman, Accra
?????????? Sakumono, Accra
?????????? Dansoman, Accra
?????????? South Efiakuma Estates, Takoradi
?????????? Buokrom Estates, Kumasi
?????????? SSNIT Housing Estates
?????????? Tonsuom Estates, Sunyani
?????????? Vittim Estates, Tamale
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Motor vehicles
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GH has a fleet of buses, pick-ups and saloon cars located in Ghana and in some of the overseas offices of the company
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For enquiries and sale documents please contact Felix Addo or Eric Nipah at the Head-Office of Ghana Airways Limited (In Official Liquidation), White Avenue, Airport Residential Area, P.O. Box 1636, Accra, Ghana
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Tel (233) 21 774884 Fax (233) 21 773316
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This announcement supersedes any previous information on the closing date for receipt of offers for the assets of GH
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Official Liquidator