News / National
Fresh plan to save Air Zimbabwe
25 Oct 2018 at 07:04hrs | Views
Government's ambitions to save AirZim intensified last week as it invoked the Reconstruction of State-Indebted Insolvent Companies Act to ring fence the airline's assets and work out a repayment plan.
The 72 year old airline, which owes over $300 million to several creditors, was placed under reconstruction this month after a series of turnaround plans flopped as a result of lack of funding to repay creditors.
Meanwhile, CAAZ is in the process of reviewing its commercial space rental-policy in line with the dictates of the government's new procurement regulations, officials say.
This comes as industry players have called on Harare to fully utilise its tourism infrastructure in order to prepare for an evalanche of global visitors in the post-election period.
The 72 year old airline, which owes over $300 million to several creditors, was placed under reconstruction this month after a series of turnaround plans flopped as a result of lack of funding to repay creditors.
Meanwhile, CAAZ is in the process of reviewing its commercial space rental-policy in line with the dictates of the government's new procurement regulations, officials say.
This comes as industry players have called on Harare to fully utilise its tourism infrastructure in order to prepare for an evalanche of global visitors in the post-election period.
Source - fingaz
