Thursday, 7 May 2015

Rescue for Air Zimbabwe

Troubled airline Air Zimbabwe will hold talks with several potential strategic partners after government agreed to take over its toxic $298 million debt.

 Air Zimbabwe. The talks will be completed during the third quarter of this year, according to Zimbabwe's Transport Minister, Obert Mpofu “We have some interest from some reputable airlines which have shown keenness to partner Air Zimbabwe, especially when we clean up our balance sheet, which has been of great concern to potential investors.  - Government has undertaken to warehouse that debt and let the new arrangement start on a clean slate.”

While government has maintained an empowerment policy which dictate that 51 percent shareholding be in local hands, Mpofu said the state could compromise on the final deal.
“We would be looking at several possibilities out of which a compromise one would be selected and this would be an outcome of negotiations between the two parties,” he said.

The Government is also talking to other airlines for purchasing or lease to buy arrangements for new Airbus aircraft. 

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