Air Zim targets finalisation of debt assumption plan

THE state-owned airline, Air Zimbabwe says the imminent finalisation of a debt assumption plan by the government is set to pave way for its removal from the reconstruction.

A combination of huge debts, viability challenges, unviable routes and a weak balance sheet, resulted in the government putting the national airline under an administrator in 2018.

Giving an update on the reconstruction phase, the administrator, Tonderayi Mukubvu of Grant Thornton said major strides have been achieved to restore profitability.

He, however, said while the state-owned utility is now operating under stable conditions, although the issue of debts remains unresolved.
“We are almost there in terms of solving profitability challenges, however, the key issue is about what can be done to resolve issues of debts,” he said.

The revival of the national airline is also seen as a key step in achieving targets under the country’s vision 2030.

 

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