Breaking News

Air Zimbabwe debt balloons to US$188 million

by Staff Reporter
11 February 2013 | 3490 Views
Air Zimbabwe's debt has ballooned to US$188 million, further dampening hopes of securing a strategic partner to help the airline resume full operations.

The national airline's debt has accumulated to US$188 million from US$140 million despite the resumption of local and regional flights that had been suspended.

The airline is relying on a Boeing 767, a Boeing 737 and MA60 airplanes to service its regional and domestic routes while 5 other airplanes need servicing before hitting the skies.

Presenting oral evidence before the Parliamentary Portfolio Committee on Transport, Communication and Infrastructure, interim Air Zimbabwe Board Chairman, Mr Munesu Munodawafa, who is also the Permanent Secretary in the Ministry of Transport, Communication and Infrastructural Development, said government has been working closely with management to try and improve the airline's domestic and regional connectivity but the biggest challenge is the huge debt overhang.

The national flag carrier managed to retire part of its debt mostly to South African creditors after a US$8,5 million cash injection from government last year.

However, as things stand right now, at least US$158 million is required for Air Zimbabwe to pay international creditors and resume international flights.




Other problems bedevilling the national flag carrier include mismatch between the small fleet and its bloated staff and the old age of the planes.

Meanwhile, a new board of directors for the airline is set to be announced on the 22nd of February after the parastatal went for more than a year without a substantive board.

debt balloons

Source: zbc

Could there be war if Grace Mugabe becomes President?

Yes
74.6%
No
9.09%
Who cares?
16.31%
374

Comments

Latest Classifieds (Click Here For More)

News Updates

Email:

Latest News

'Prioritise quality education,' says Grace Mugabe - The First Lady Dr...

by Staff Reporter | 25 October 2014 | 470 Views

'I am not a sell out,' says Dr Mujuru - Vice President Dr Joice Mujur...

by Staff reporter | 25 October 2014 | 2724 Views

Mugabe's Zanu-PF politburo ignores Grace's demands - Yesterday's much-...

by Staff reporter | 25 October 2014 | 1871 Views

Zesa power outage riles Mugabe - President Robert Mugabe yesterday cam...

by Staff reporter | 25 October 2014 | 1249 Views

My aunt taught me how to have sex, says rapist

by Staff Reporter | 25 October 2014 | 3768 Views

Incompetent cops - WhatsApp update - Please note that Bulawayo24 does...

by Concerned Citizen | 25 October 2014 | 1614 Views

'Amaiguru Gire is working tirelessly hard to destroy Zanu PF' - Please...

by Sando kuna Gire | 25 October 2014 | 5289 Views

Rotary Club of Bulawayo donates to Tjewondo Primary School

by Collin Nyabadza, Executive Director - Collin Nyabadza Children's Voice Charitable Trust | 25 October 2014 | 1030 Views

Dr Joice Mujuru graduation party - Live updates - Vice President Joic...

by Staff reporter | 25 October 2014 | 7522 Views

Politburo ends pre-matually - The Zanu-PF Politburo meeting has ended ...

by Staff reporter | 25 October 2014 | 2600 Views

Mujuru's political life hangs in balance, kept guessing - Vice-Preside...

by Staff reporter | 25 October 2014 | 2592 Views

Zanu-PF Politburo drama fails to materialise - THE Zanu-PF politburo g...

by Staff reporter | 25 October 2014 | 1428 Views

Mugabe convenes parliament - President Robert Mugabe will next week op...

by Staff reporter | 25 October 2014 | 1235 Views

Tsvangirai broke, failing to maintain government mansion - MDC-T leade...

by Staff reporter | 25 October 2014 | 1294 Views

Bosso ranked higher than English Premier sides QPR, Pompey - BULAWAYO ...

by Sikhumbuzo Moyo | 25 October 2014 | 2123 Views

Adulterous man sued for maintenance - A BULAWAYO magistrate has grante...

by Lethokuhle Moyo | 25 October 2014 | 1200 Views

Cop gets a thorough hiding, left with swollen face - A policeman was ...

by Plaxcedes Hove | 25 October 2014 | 1570 Views

Teacher suspended over sex with Grade 6 pupil - THE teacher from Roman...

by Sukulwenkosi Dube | 25 October 2014 | 1701 Views

Man brutally axed to death, body dumped on railway line

by Bongani Ndlovu | 25 October 2014 | 2295 Views

R50 abortion specialist nabbed

by Staff Reporter | 25 October 2014 | 1552 Views

Macheso granted provisional order against abusive hubby

by Staff Reporter | 25 October 2014 | 3400 Views

Mugabe okays Mliswa ouster

by Farirai Machivenyika | 25 October 2014 | 4936 Views

War vets to stage anti-Kaukonde protest

by Staff Reporter | 25 October 2014 | 3554 Views

Jabulani Sibanda urged to resign over 'sharp shooter' Grace Mugabe

by Staff Reporter | 25 October 2014 | 5236 Views

'Zanu-PF is much bigger than personal ambitions and vendetta' - The cu...

by Kennedy M. Mandaza, ZANU PF SA Secretary for Information and Publicity | 25 October 2014 | 3137 Views

Zanu-PF official embroiled in sex scandal, including raping girl (9) -...

by Staff Reporter | 24 October 2014 | 5836 Views

No meaningful devolution without fiscal autonomy - The ZAPU devolution...

by Themba Mthethwa | 24 October 2014 | 1933 Views

Open letter to Grace Mugabe - I AM sure you don't know me at all, bei...

by GP Ndlovu | 24 October 2014 | 9549 Views

Entertainment

Carl Joshua Ncube to star in game show - Comedian Carl Joshua Ncube wi...

by Staff reporter | 23 October 2014 | 1001 Views

LadyBee Anondida - Official video

by Staff Reporter | 23 October 2014 | 2267 Views

Zim representative in the Big Brother Africa survives eviction - Zimba...

by Staff reporter | 20 October 2014 | 2887 Views

Grace Mugabe's political comedy takes ZTV hostage - For the past two w...

by Staff reporter | 20 October 2014 | 5334 Views

Oliver Mtukudzi to deliver lecture at Musica 2014 - Zimbabwe's interna...

by Staff reporter | 19 October 2014 | 1604 Views

Gezha maoko - Ladybee (Official Video)

by Staff Reporter | 19 October 2014 | 2922 Views

Matebeleland Music & Arts Festival - Sivala umnyaka ngengoma lapho sit...

by Staff Reporter | 17 October 2014 | 1847 Views

Obediah Matulana releases Christmas DVD - Bulawayo-based musician Obed...

by Staff reporter | 16 October 2014 | 2146 Views
iBlog

Advanced Systemcare Free To Optimize The Os Still Support Xp

the update systemcare free 7.3.0.456 (a set of tools to optimize the operating system) – now available.advanced systemcare is a free package to optimize, tweak, fix bugs and improve the overall performance of the operating system.the program anal... Read More
ITnews 02 June 2014 ago

Top 10 Causes Of Vaginal Bleeding After Intercourse

bleeding after sex can be rather alarming, and there could be many reasons why a woman would bleed after sex. though most women bleed after their first time having sex, if bleeding becomes frequent, there may be an underlying issue. below are the 1... Read More
adoniadennis 02 May 2014 ago