Air Zimbabwe carriers among top defaulting airlines

Air Zimbabwe carriers among top defaulting airlines
Published: 13 June 2018 (1310 Views)
Angola, Sudan and Zimbabwe are among the top five countries with national carriers that are failing to repatriate revenue from ticket sales to other airlines, APA reported.

According to the International Air Transport Association (IATA), Venezuela, Angola, Sudan, Bangladesh and Zimbabwe were the top five carriers that owed other airlines more than US$4.5 billion in revenue from ticket sales and other activities at the end of 2017.

Angola owed other airlines about US$386 million while Sudan had a backlog of US$170 million and Zimbabwe sat on arrears of US$76 million.

Venezuela had the largest backlog, pegged at US$3.78 billion, while Bangladesh owed US$95 million.

IATA director-general Alexandre de Juniac said in a statement that the five countries account for about 92 percent of blocked funds that were not repatriated to other carriers.

De Juniac however noted progress in Angola’s efforts to reduce its repatriation backlog.

"We have made $120 million of progress from a peak of over $500 million in Angola. I encourage the government of Angola to work with airlines to help to reduce this backlog further," said de Juniac.

He also applauded Nigeria for clearing its US$600 million backlog in payments to other airlines.

Air Zimbabwe has faced viability challenges in the past two decades, which at one point resulted in its aircraft being confiscated by creditors.

- APA

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

How to win at slots? Top slot tips & tricks

by Staff Reporter | 17 January 2019 | 42 Views

Stay away: A manifestation of the MDC's violence DNA

by Nobleman Runyanga | 17 January 2019 | 68 Views

Kirsty Coventry has not resigned from ministry

by Mandla Ndlovu | 17 January 2019 | 79 Views

Mnangagwa and Gen Chiwenga responsible for lootings, shootings and terrorism

by Dr Nkululeko Sibanda (Presidential Spokesperson) | 17 January 2019 | 93 Views

A tale of a school teacher

by Virimayi Chidembo | 17 January 2019 | 71 Views

My encounter with the rowdy protestors

by Betty Gatsi | 17 January 2019 | 44 Views

Price of bread now $6

by Mandla Ndlovu | 17 January 2019 | 93 Views

The unleashing of army to descend on demonstrators was uncalled for

by Leonard Koni | 17 January 2019 | 43 Views

How Facebook and Whatsapp fuelled chaos and confusion in Zimbabwe

by Dr Masimba Mavaza | 17 January 2019 | 45 Views

Mnangagwa pleased with Putin meeting

by Staff reporter | 17 January 2019 | 121 Views

Mnangagwa opens consulate in Belarus

by Staff reporter | 17 January 2019 | 135 Views

MDC perpetrating violence, violating human rights

by Anesu Pedzisayi | 17 January 2019 | 127 Views

3 Religious Sites to Visit When in Israel

by Staff Reporter | 17 January 2019 | 83 Views

BREAKING: Evan Mawarire charged with treason

by Mandla Ndlovu | 17 January 2019 | 221 Views

'100 men abaducted in Matabeland during protests'

by Mandla Ndlovu | 17 January 2019 | 131 Views

Army continues terror as Bulawayo is shutdown

by Mandla Ndlovu | 17 January 2019 | 287 Views

Here's what motorists are paying for fuel around the world

by wheels24 | 17 January 2019 | 223 Views

Bond notes and their possible long-term legacy

by Staff reporter | 17 January 2019 | 149 Views

Govt should nip MDC, NGOs

by Jasper Hloka | 17 January 2019 | 157 Views

Mnangagwa says 'monumental task' to fix economy

by AFP | 17 January 2019 | 113 Views

REVEALED: ZANU PF fingered in violent protests and looting

by Mandla Ndlovu | 17 January 2019 | 155 Views

Linda Masarira opens up on protests and army killings

by Linda Masarira | 17 January 2019 | 184 Views

The Hard Truth About The Fuel Price Increase

by Faith Hope | 17 January 2019 | 117 Views

ZANU PF Youth leader with 4 guns arrested during protests

by Mandla Ndlovu | 17 January 2019 | 260 Views

US Embassy condemns Zim government

by Mandla Ndlovu | 17 January 2019 | 108 Views

Churches condemn shooting of civilians

by Staff reporter | 17 January 2019 | 173 Views

Mnangagwa's pronouncement was not the whole truth

by Staff reporter | 17 January 2019 | 235 Views

Zimbabwe doctor group reports 68 gunshot wounds

by AFP | 17 January 2019 | 127 Views

Tendai 'Beast' Mtawarira named Sharks vice-captain

by Staff reporter | 17 January 2019 | 109 Views

'Zimbabwe to have another GNU as fuel price drops'

by Mandla Ndlovu | 17 January 2019 | 402 Views

Kirst Coventry resigns?

by Mandla Ndlovu | 17 January 2019 | 397 Views

ZSE charms investors

by Staff reporter | 17 January 2019 | 84 Views

MDC denies hand in mayhem

by Staff reporter | 17 January 2019 | 112 Views

Court frustrates lawyers representing Zanu-PF youths

by Staff reporter | 17 January 2019 | 125 Views

Zanu-PF behind acts of violence, says Court

by Staff reporter | 17 January 2019 | 143 Views

Hundreds arrested in violent crackdown

by Staff reporter | 17 January 2019 | 61 Views