Zimbabwe has invited bids for the state-owned airline as President Emmerson Mnangagwa’s government pushes ahead with a drive to privatise and end state funding to loss-making firms, Air Zimbabwe’s administrator said on Monday.
Air Zimbabwe is in debt and owes foreign and domestic creditors more than $300 million, was in October placed into administration to try and revive its fortunes.
The struggling airline is among dozens of state-owned firms that are set to be partially or fully privatised in the next 9 months as the government seeks to cut its fiscal deficit seen at 11 percent of GDP this year.
Air Zimbabwe administrator Reggie Saruchera said in a notice published in newspapers on Monday that potential investors should make their bids before Nov. 23 after paying anon-refundable deposit of $20,000.
Saruchera did not indicate whether investors would be allowed to tender for partial or total shareholding in Air Zimbabwe. He was not immediately reachable for comment.
Only three of Air Zimbabwe’s planes are operational while three others are grounded, this has forced the airline to abandon international routes
SABC News
