Poll: What motivates you to sell a supplier’s products?
• Educationals
• Corporate incentives
• Leisure incentives
• Service levels
• Commission

Zimbabwe to lease 15 aircraft for troubled national carrier Today's News

Print   Send to a friend

The Zimbabwe government is planning to lease 15 aircraft from Malaysia Airlines for Air Zimbabwe, the ailing national carrier.

Zimbabwe’s transport and infrastructure development minister, Joram Gumbo, told the state-run Herald that government was in talks with the Diaspora Infrastructure Development Group (DIDG) about the transaction, as the group was offering to help with the acquisition.

DIDG is spearheaded by Zimbabweans in South Africa to expand the shareholder base to Zimbabwean residents and unlock foreign capital and knowledge inflows to develop Zimbabwe. 

The Civil Aviation Authority of Zimbabwe is representing the government in the deal as Air Zimbabwe is not creditworthy due to its debts. Under the agreement, DIDG would facilitate the acquisition of the aircraft under a lease agreement, renewable after five years, said Gumbo. 

The lease is one of the measures government is adopting in an effort to restore Air Zimbabwe, which reportedly has debts of around $300 million.

Today's News

comments powered by Disqus
 latest  previous
FlyAfrica to resume operations in August
FlyAfrica expects to return to the skies on...
Mandela 100 – how are you celebrating?
2018 marks the centenary of the birth of Nelson...
KQ to stop flights to Jeddah
Kenya Airways will stop flights between Nairobi...
New China-London flight route introduced
CHINA Southern Airlines introduced two weekly...
BA launches new app for Executive Club members
British Airways has launched the Executive Club...
Do you want to be a secret agent?
Do you have a scoop? Are you sitting on...