As Zimbabwe's economy begins to recover after a decade of crisis, a group of local investors announced Thursday it was setting up a low-cost airline to rival the nation's state-owned carrier, the country's only airline until now.

The airline, Fly Kumba, is scheduled to begin operations in September, and will ply both domestic and regional routes, officials said.

Airline chief executive Lloyd Muchaka said Fly Kumba had been modeled along the lines of low-cost carriers in Europe and elsewhere, and was confident of securing viable business in this market segment.

"We intend to become Zimbabwe's preferred low-cost airline, delivering the cheapest air fares with the highest consumer value and offering world-class service to price sensitive consumers," he said.

He said aircraft had been secured, but did not say where Fly Kumba had got the planes nor reveal how much had been invested in the project.

Muchaka said the main route for the airline would be Harare-Johannesburg, tapping into the more than three million Zimbabweans estimated to be living and working in South Africa.

A visa-free regime between the two countries, introduced two months ago, has also increased travel between them.

Until now, state-owned Air Zimbabwe was the only local airline in the country, plying domestic, regional and international routes.

Zimbabwe's economy has started to pick up again after a coalition government that includes the opposition was formed in February.

By Staff reporter and agencies