Air Zimbabwe to spend US$775m on new jets
STAFF WRITER
Air Zimbabwe plans to buy six new aircraft at a cost of US$775.5m over the next three years, in a major fleet overhaul backed by the Mutapa Investment Fund and the national Treasury.
The planned purchase forms the centrepiece of a five-year strategic turnaround plan designed to revitalise the national carrier’s domestic, regional, and international operations. It is meant to replace the airline’s ageing fleet of Boeing 737s and 767s.
By transitioning to modern, fuel-efficient models, the airline anticipates a significant reduction in the high maintenance costs that have historically burdened its balance sheet.
The investment is structured to address specific operational deficits through a three-tiered expansion.
The first phase involves the acquisition of two aircraft, valued at US$49m each, which will be dedicated to internal routes. The planes are expected to increase flight frequencies and support the growth of the domestic network.
Subsequently, the airline plans to buy two regional jets priced at US$101m each. This phase aims to reclaim market share on routes dominated by regional competitors.
The crown jewel of the plan involves the purchase of two long-haul, wide-body jets at a cost of US$225m each. These aircraft are earmarked for the resumption of direct flights to key global destinations, reconnecting Zimbabwe to international markets.
