Air Zim buoyant

PHILLIMON MHLANGA IN VICTORIA FALLS

 

The country’s flag carrier, Air Zimbabwe, is confident of  returning to the International Air Transport Association (IATA).

 

IATA sets policies and standards that promote safe, secure, and economical air travel operations for the industry.

 

Air Zimbabwe was suspended  from IATA owing to unpaid fees and safety concerns, the government-owned airline has been suspended from IATA multiple times.

The airline owed IATA  about US$140m after experiencing operational challenges amidst a strenuous financial climate over the last few years.

However, it is understood, about 90% of its dues  have been paid, paving way for its possible return to IATA.

“We have a strategic turnaround plan which was approved by Cabinet,” Air Zimbabwe acting CEO, Tafadzwa Zaza told Business Times.

 

He added: “The plan will allow for the clearance of the airline’s domestic and external debt.

“The other issue was recapitalising the airline through the acquisition of appropriate equipment and the right size of the routes that we want to operate and the modern equipment because ones that we have are a bit aged and are costly in terms of operations.

“We are confident this will help the airline rejoin the IATA clearing house. We are currently not a member of the IATA clearing house.”

Air Zimbabwe was placed under  receivership in 2018 due to a combination of huge debts, viability problems and weak balance sheet. Regie Saruchera of Grant Thornton Chartered Accountants was appointed  the judicial manager.

 

However, the airline,  has since exited receivership.

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