{"id":2083,"date":"2021-07-08T15:29:28","date_gmt":"2021-07-08T15:29:28","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=2083"},"modified":"2021-07-08T13:20:41","modified_gmt":"2021-07-08T13:20:41","slug":"mozambique-lam-owes-us230-million-carta","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta","title":{"rendered":"Mozambique: LAM owes US$230 million \u2013 Carta"},"content":{"rendered":"

Africa-Press<\/a> – Mozambique<\/a>. <\/strong><\/span>The company Linhas A\u00e9reas de Mo\u00e7ambique (Mozambique Airlines \u2013 LAM) owes an estimated at US$230 million (14.7 billion meticais), General Director Jo\u00e3o Carlos P\u00f3 Jorge told journalists at a media breakfast on Tuesday (July 6).<\/p>\n

Answering a question on the extent of the flag carrier\u2019s liabilities, Po said: \u201cYes, LAM\u2019s accounts are in the red. The company carries a debt of US$230 million from the past, corresponding to debts to banks, to domestic suppliers, and, to a lesser extent, to external suppliers.\u201d<\/p>\n

Even with this debt, Po said, operating losses began to fall in 2018, and its December 2020 accounts were at \u201cbreak-even\u201d.<\/p>\n

\u201cThis is an indication that we are on the right path. We expect that, in 2021, if the pandemic alleviates and we start using what resources we have, we will move into positive territory.\u201d<\/p>\n

LAM\u2019s fleet consists of six leased aircraft: two Boeing 737-700s, one Bombardier Q 400 and three Embraer 145s, the latter operated by subsidiary Mo\u00e7ambique Expresso (MEX).<\/p>\n

LAM has been standardizing its fleet recently, in December 2018 selling a Boeing 737-500 Classic to Ariana Afghan Airlines for US$2.5 million.<\/p>\n

The airline also has two Embraer 190s for sale in a hangar in Nairobi, Kenya, a country chosen because it is certified to maintain this type of aircraft.<\/p>\n

Since the aircraft were mothballed in September 2019, LAM has been paying US$40,000 storage per plane per month, totalling US$400,000 to date. It still remains far from finding a buyer, to the extent that the company has even considered selling the aircraft for parts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The company Linhas A\u00e9reas de Mo\u00e7ambique (Mozambique Airlines \u2013 LAM) owes an estimated at US$230 million (14.7 billion meticais), General Director Jo\u00e3o Carlos P\u00f3 Jorge told journalists at a media breakfast on Tuesday (July 6). Answering a question on the extent of the flag carrier\u2019s liabilities, Po said: \u201cYes, LAM\u2019s accounts are […]<\/p>\n","protected":false},"author":84,"featured_media":2082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-2083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMozambique: LAM owes US$230 million \u2013 Carta - Mozambique<\/title>\n<meta name=\"description\" content=\"The company Linhas A\u00e9reas de Mo\u00e7ambique (Mozambique Airlines \u2013 LAM) owes an estimated at US$230 million (14.7 billion me ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mozambique: LAM owes US$230 million \u2013 Carta\" \/>\n<meta property=\"og:description\" content=\"The company Linhas A\u00e9reas de Mo\u00e7ambique (Mozambique Airlines \u2013 LAM) owes an estimated at US$230 million (14.7 billion me ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-08T15:29:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/07\/img-60e6fb8c7c4fa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"531\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mozambique: LAM owes US$230 million \u2013 Carta\",\"datePublished\":\"2021-07-08T15:29:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta\"},\"wordCount\":265,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/07\/img-60e6fb8c7c4fa.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/mozambique-lam-owes-us230-million-carta\",\"name\":\"Mozambique: LAM owes US$230 million \u2013 Carta - 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