Zimbabwe has welcomed offers for the state-owned aircraft as President Emmerson Mnangagwa’s administration pushes ahead with a drive to privatize and end state financing to loss making firms, Air Zimbabwe’s chairman said on Monday.

Air Zimbabwe, which owes foreign and local creditors more than $300 million, was in October set into administration to attempt and restore its fortunes.

The struggling carrier is among many state-owned firms, referred to locally as parastatals, that are set to be in part or completely privatized in the following nine months as the administration looks to cut its financial shortage seen at 11 percent of GDP this year.

Air Zimbabwe director Reggie Saruchera said in a notice distributed in media on Monday that potential financial specialists should make their offers before Nov. 23 subsequent to paying a non-refundable deposit of 20,000 dollars .

Saruchera did not show whether speculators would be permitted to tender for partial or complete shareholding in Air Zimbabwe. He was not immediately reachable for comment.

Just three of Air Zimbabwe’s planes are operational, with another three grounded, which has constrained it to quit international routes.


source: https://businessvillage.com.ng/zimbabwe-plans-to-sell-struggling-national-carrier-air-zimbabwe/

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