The action started last Thursday with the auction of the three planes currently grounded at Sir Seretse Khama International Airport (SSKIA).
They include the Beech Craft King AIR 200 Reg A2-M, the Beech Craft Super King Air 200 Reg A-2 FMB white and the Beech Craft Reg-A2 FM white.
The move comes after the investment arm of the Botswana Public Employees Union (BOPEU) obtained an order from Gaborone High Court Judge Michael Mothobi to acquire and auction aircraft belonging to Flying Mission Services in order to recover over 7 million pesos plus interest the school owes to the union. .
The P7, 886,000.00 P is said to have been part of a loan agreement to Flying Mission Pty Ltd which was allegedly authorized by the former executive chairman of BOPEU, Andrew Motsamai, on behalf of Babereki Investments.
Through the deal, Babereki would buy ordinary shares of Flying Mission Services for the sum of P2 314,000,000 and obtain a 40% stake in the school in accordance with an agreement reached between the two companies in August 2017.
However, sources said the BOPEU commercial wing would struggle to find suitable buyers for the aircraft, as most of them are beyond economic value.
Company attorney Dutch Leburu told The Monitor on Sunday that although Gaborone’s auction took place at SSKIA, only one plane found a suitable buyer.
He said bids for the other two planes were rejected because they were well below the minimum reserve price.
“I have not yet confirmed whether the successful bidder for the other plane has paid the bond as it is supposed to be.
But the other offers were rejected on the grounds that they were below the minimum amount we wanted. We were looking for something at least 900,000 P. “
“The Cessna206 A2-AFU starts at US $ 400,000, the Cessna 207 A2-FMC starts at US $ 450,000 while the King air C90 A2-MJM starts at $ 600,000. These are rough orders of magnitude numbers. “, did he declare.
Leburu said of the six planes, three were declared “beyond economic repair” and therefore should be sold as scrap. He added that the Maun auction would take place on November 11.
He said if they couldn’t find suitable buyers for the plane, they would re-advertise.
“We also invited another training institute to take a look at the plane,” he added.
Mothobi also ordered the cancellation of the subscription and shareholders agreement and the loan agreement as it is alleged that they were signed without the authorization of the board of directors.