Air Zimbabwe seeks $190m for revival

Air Zimbabwe seeks $190m for revival
Published: 05 March 2018 (459 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.

- Daily News

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