Govt backs Air Zimbabwe reconstruction plan

Govt backs Air Zimbabwe reconstruction plan
Published: 28 November 2018 (715 Views)
The government has backed a reconstruction plan for the national airline, Air Zimbabwe, after a creditors meeting on Thursday ruled out possibilities of liquidating the parastatal.

For an airline that is saddled with a $380 million debt, old equipment, failure to generate profit and subdued passenger and cargo volumes, all has not been well for the national airline.

The government instituted a reconstruction plan in September and Principal Director for Rail and Air in the Ministry of Transport and Infrastructural Development Mr Allowance Sango says restoration of confidence is the key target.

"There is no going back, we want to get back to full business and facilitate growth for key sectors," said Mr Sango.

To creditors, getting back their dues or money is a key cause for concern.

"We just want to get back the funds otherwise we do not need anything else apart from that," said a representative of the creditors.

The state-owned airline's administrator Mr Reggie Saruchera revealed plans are in progress to attract potential investors.

"We are just about to get the right and suitable partners to get everything on a proper course," Mr Saruchera said.

Creditors of the airline met with the administrator this Thursday to focus on modalities for the airline's revival.

- ZBC

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Chamisa's government would join rand union

by ZimLive | 09 December 2018 | 101 Views

Undenge jailed 4 years over $12,000 PR firm payout

by Staff reporter | 09 December 2018 | 100 Views

Zanu-PF provinces ditch Chiwenga

by Staff reporter | 09 December 2018 | 79 Views

Civil servants wage talks with government collapse

by ZimLive | 09 December 2018 | 115 Views

PHOTO: Spot Mnangagwa, Machel and Putin

by Social media | 09 December 2018 | 793 Views

No leads in Mnangagwa bombing

by Staff reporter | 09 December 2018 | 104 Views

Cont Mhlanga enjoys village life

by Staff reporter | 09 December 2018 | 111 Views

'In politics, treachery is inevitable'

by Staf reporter | 09 December 2018 | 86 Views

Mnangagwa's graft probe targets judges

by Staff reporter | 09 December 2018 | 111 Views

Mphoko's world crumbling?

by Staff reporter | 09 December 2018 | 109 Views

Mnangagwa promotes senior police officers

by Staff reporter | 09 December 2018 | 86 Views

Zimbabwe launches crackdown on academic fraud

by Staff reporter | 09 December 2018 | 93 Views

Mnangagwa taking us down a familiar path?

by Staff reporter | 09 December 2018 | 80 Views

Chamisa and Biti begs for GNU why now?

by Dr Masimba Mavaza | 09 December 2018 | 177 Views

Matebeleland South villagers in bid to trademark amacimbi

by newzimbabwe.com | 09 December 2018 | 113 Views

Biti blasts gallivanting Mthuli Ncube

by newzimbabwe | 09 December 2018 | 117 Views

Mnangagwa prepared to dump Mugabe's repressive laws

by newzimbabwe | 09 December 2018 | 267 Views

Matebeleland South villagers in bid to trademark madora

by newzimbabwe.com | 09 December 2018 | 177 Views

Zanu-PF terror commander released from prison

by newzimbabwe | 09 December 2018 | 336 Views

Convicted thieving Bulawayo deputy mayor taken to court

by newzimbabwe | 09 December 2018 | 114 Views

Heavy rains, thunderstorms forecast for ZImbabwe

by Staff reporter | 09 December 2018 | 132 Views

New, cheaper ARV comes to Zimbabwe

by Staff reporter | 09 December 2018 | 112 Views

Perm Sec in $250 million probe

by Staff reporter | 09 December 2018 | 122 Views

Millions blown on needless imports

by Staff reporter | 09 December 2018 | 89 Views

Transformation: Imparting depth to the economy

by President Emmerson D. Mnangagwa | 09 December 2018 | 93 Views

Want a goblin? Ask these guys

by Staff writer | 09 December 2018 | 129 Views

Mnangagwa to name new PG

by Staff reporter | 09 December 2018 | 95 Views

Phinias Mogorosi Makhurane: A hero of many talents

by Emeritus Professor Ngwabi M Bhebhe | 09 December 2018 | 98 Views

Digital tax headache for small economies

by Dr Dennis Magaya | 09 December 2018 | 107 Views

The problem with kaSong Kejecha

by Staff reporter | 09 December 2018 | 108 Views

Soccer calendar change on course

by Staff reporter | 09 December 2018 | 116 Views

Zimbabwe outlines university innovation hub strategy

by Staff reporter | 09 December 2018 | 104 Views

'SA robber' shot, killed in Nkulumane

by Staff reporter | 09 December 2018 | 122 Views

Mysterious fires raze down two family homesteads

by Staff reporter | 09 December 2018 | 111 Views

Mpilo procures UPS cancer machine

by Staff reporter | 09 December 2018 | 101 Views

Satanists are in full force causing accidents, claims Mutumwa

by Staff reporter | 09 December 2018 | 83 Views