Air Zimbabwe requires US$368 million for recapitlisation


The national airline Air Zimbabwe requires US$368 million to buy new aircraft and for operational costs, the acting chief executive Edmund Makona said today.  He said the airline requires US$330 to buy new aircraft and US$38 million for operations expenses, according to APA news agency.  The national airline has been paralysed by debts which amount to US$180 million according to Deputy Transport Minister Petronella Kagonye. She said the airline could not fly to London or Beijing because it owed US$32 million which had to be cleared first. Transport Minister Obert Mpofu said the airline was likely to resume flying to the two destinations as it was on the brink of signing a technical partnership to service the two routes. The airline has 10 aircraft but only two are said to be operational.


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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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