Air Zimbabwe to lease out its long-haul aircraft amid US$30 million debt

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VICTORIA FALLS – The national airliner Air Zimbabwe has decided to lease out its long-haul aircraft amid revenue challenges due to huge legacy debts.

The State-owned carrier which came out of reconstruction last year, believes that the move is part of its efforts to consolidate its revenue base as it emerges from the woods.

Air Zimbabwe has a total fleet of seven aircraft including three that are servicing domestic and regional routes like South Africa.

The company is facing huge debts encompassing US$30 million in foreign liabilities and ZWL349 million obligations owed to local creditors weighed on the company.

In an interview with the State owned newspaper Herald, on the sidelines of the CEO Africa Annual Roundtable in Victoria Falls last week, Air Zimbabwe acting chief executive officer Tafadzwa Zaza said they had long-haul aircraft that include the Boeing 777 (B777) they want to lease out.

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