Air Zimbabwe carriers among top defaulting airlines

Air Zimbabwe carriers among top defaulting airlines
Published: 13 June 2018 (1151 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

Emmerphoria marks Zimbabwe's policy shift

by Bruce Zvandasara | 20 September 2018 | 132 Views

Zimbabweans pin hopes on ED as he attends maiden UNGA Summit

by Nicole Hondo | 20 September 2018 | 110 Views

UNGA and Zim's international incorporation

by Anesu Pedzisayi | 20 September 2018 | 93 Views

Mnangagwa fortifies his political power

by Staff reporter | 20 September 2018 | 155 Views

Zimbabwe stops luxury car purchases for cholera fund

by BBC | 20 September 2018 | 115 Views

ZAPU position on implementation of Devolution of Power

by Zapu | 20 September 2018 | 92 Views

Mnangagwa makes maiden UNGA appearance

by Elijah Chihota | 20 September 2018 | 81 Views

PHOTO: Chiwenga's hand swollen

by Staff Reporter | 20 September 2018 | 216 Views

Mnangagwa arrives in New York

by Staff reporter | 20 September 2018 | 120 Views

Zimbabwe's impressive cabinet line-up under a severe parliamentary vaccuum

by Reginald Thabani Gola. | 19 September 2018 | 355 Views

Mnangagwa boycott the way to go, says MDC veterans

by Stephen Jakes | 19 September 2018 | 381 Views

Mudede hunts down staffer who revealed blacklist

by Staff reporter | 19 September 2018 | 460 Views

'Mnangagwa inherits Mugabe's anti-Gukurahundi traits'

by Staff reporter | 19 September 2018 | 250 Views

Mnangagwa snubbing the way to go

by Stephen Jakes | 19 September 2018 | 227 Views

Shame on you MDC MPs

by Munya Shumba | 19 September 2018 | 209 Views

Kariba on high Cholera alert

by John T Chirinda | 19 September 2018 | 153 Views

Parent involvement helps students to do well

by Agencies | 19 September 2018 | 132 Views

$6000 salary for MPs

by Staff Reporter | 19 September 2018 | 302 Views

Mnangagwa tours Glen View cholera centre

by Staff reporter | 19 September 2018 | 171 Views

Unresolved ethnicity conflict haunts Bulawayo

by Staff reporter | 19 September 2018 | 133 Views

Bulawayo's 'foreign' mayor remains unfazed

by Staff reporter | 19 September 2018 | 168 Views

Court defers ruling on Nduna's Chegutu West win

by Staff reporter | 19 September 2018 | 165 Views

Zoey SA bound

by Staff reporter | 19 September 2018 | 129 Views

Gukurahundi seeks to eclipse Intwasa

by Staff reporter | 19 September 2018 | 123 Views

Gukurahundi documentary deemed to be carrying inflammatory information

by Staff reporter | 19 September 2018 | 140 Views

Models at Prophet Magaya Prayer Mountain

by Staff reporter | 19 September 2018 | 167 Views

Chamisa turns down Parly invite

by Staff reporter | 19 September 2018 | 270 Views

Chamisa can only have an effective protest if all his MPs boycot Parliament

by Staff reporter | 19 September 2018 | 214 Views

Local govt has crossed difficult path since year 2000

by Stephen Jakes | 19 September 2018 | 127 Views

Ecocash and swipe are gradually being phased out

by Stephen Jakes | 19 September 2018 | 310 Views

So much hate in Zimbabwe, Mnangagwa needs to unite people - Mliswa

by Stephen Jakes | 19 September 2018 | 337 Views

Chamisa's MPs walk out on Mnangagwa

by Staff reporter | 19 September 2018 | 196 Views

Mnangagwa must consider Mthuli Ncube's proposals

by Editorial - newsday | 19 September 2018 | 221 Views

Mnangagwa rejects Mines Bill

by Staff reporter | 19 September 2018 | 180 Views