Air Zim seeks $770m

HARARE - National flag carrier, Air Zimbabwe, requires at least $770 million to procure new aeroplanes suitable for domestic, regional and international routes, Transport minister Jorum Gumbo has said.

“This will involve procuring three small jets for the domestic market and an appropriate mix for other regional and international aircraft in line with the airline turn-around strategy,” he said.

This comes as the national airline’s six aircrafts are now difficult to maintain and frequently break down due to old age.

Gumbo said given the prevailing demands on the fiscus, it was not conceivable for government to inject the required capital into Air Zimbabwe, hence the need for engagement of a strategic partner.

“Recapitalisation of the airline will enable it to contribute positively towards both tourism and economic growth,” he said.

The latest development comes as the parastatal’s debt has ballooned by 7,6 percent to $323 million by the end of last year from $300 million in 2015.

 

 

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