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CAAZ, NHS resign to losing $68,8m to Air Zimbabwe

by Staff reporter
29 Jan 2019 at 14:14hrs | Views
The Civil Aviation Authority of Zimbabwe (CAAZ) and the National Handling Services (NHS) are resigned to the possibility of losing $68,8 million dollars the two companies were owed by Air Zimbabwe when it was placed under judicial management in 2018.

When Air Zimbabwe, once the pride of Zimbabwean skies, was placed under judicial management on 4 October 2018, it was saddled with over $340 million in debt, 92 percent of which was local debt.

Among the companies that were owed huge sums by the national airline was CAAZ at $43million, and the NHS at $24 million.

The CAAZ debt has since accumulated to $44.8million at the end of December 2018.

There is now concern that the two parastatals that they may never recover that money.

While painful in its early stages, the reconstruction of the national airline might be the solution to the challenges at AirZim.

Only last week, the Minister of Transport and Infrastructural Development, Engineer Joel Biggie Matiza was in Malaysia discussing ways to help the ailing parastatal.

The national airline is facing operational challenges which have resulted in low level reliability and cancellation or delayed flights on its two operational aircrafts.

It is hoped that the placement of the company under the judicial management of Mr Reggie Saruchera may help to turn around the airline for it to operate viably and competitively.

Source - zbc

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