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Zimbabwe government fighting to save Air Zimbabwe: Goche
12 Jul 2011 at 05:18hrs | Views
Transport, Communications and Infrastructural Development Minister, Nicholas Goche said the Zimbabwean government is currently fighting to save Air Zimbabwe from total collapse as the national airline requires at least US$20 million to keep its aircraft flying.
Goche, said that the $20m required only covered recurrent expenditure such as fuel, The government controlled Herald Online reported on Tuesday.
It did not include US$8m retrenchment packages for workers and other international statutory obligations.
The minister revealed this at Parliament on Monday. He was giving oral evidence before a parliamentary portfolio committee on transport.
He said a Cabinet committee set up to look into the national airline had recommended that a technical partner be found for Air Zimbabwe.
The major challenge for Air Zimbabwe was that its revenue was less than its overhead costs, making it run a negative balance sheet, Goche said.
Goche, said that the $20m required only covered recurrent expenditure such as fuel, The government controlled Herald Online reported on Tuesday.
It did not include US$8m retrenchment packages for workers and other international statutory obligations.
The minister revealed this at Parliament on Monday. He was giving oral evidence before a parliamentary portfolio committee on transport.
He said a Cabinet committee set up to look into the national airline had recommended that a technical partner be found for Air Zimbabwe.
The major challenge for Air Zimbabwe was that its revenue was less than its overhead costs, making it run a negative balance sheet, Goche said.
Source - Sapa
