Business / Companies
Air Zimbabwe seeks $190m for revival
05 Mar 2018 at 06:13hrs | Views
Beleaguered national flag carrier, Air Zimbabwe (AirZim), is pleading for a $190 million capital injection from its sole shareholder, government, to fund its revival.
Saddled with a dept overhang of over $300 million, State-run airline has an ambitious plan to acquire several planes, lease some and retire its debts.
According to a 2018-2019 strategic turnaround document exclusively, AirZim intends to procure three Brazilian assembled 50-seater Embraer jetliners, suitable for domestic and short regional routes, on an urgent basis.
The airline might expend $6 million for the budget planes, at an estimated cost of $2 million each.
Saddled with a dept overhang of over $300 million, State-run airline has an ambitious plan to acquire several planes, lease some and retire its debts.
According to a 2018-2019 strategic turnaround document exclusively, AirZim intends to procure three Brazilian assembled 50-seater Embraer jetliners, suitable for domestic and short regional routes, on an urgent basis.
The airline might expend $6 million for the budget planes, at an estimated cost of $2 million each.
Source - Daily News
