RSS 2.0 FeedOctober 2011 Vol 37, Takeoff Africa: Aviation and Travel Indaba
Zimbabwe Assumes State Airline’s $140 Million Debt, Herald Says
The Zimbabwean government will assume responsibility for AirZimbabwe (Pvt) Ltd.’s $140 million debt, the state-controlled Heraldsaid, citing Transport Minister Nicholas Goche.
The nation will seek a partner for Air Zimbabwe through a private share sale, with the investor buying the airline’s assets to offset debt, the newspaper reported. The airline will also find a technical partner for National Handling Services, a unit of the carrier, the Herald said.
The sale of shares in NHS would go toward paying the airline’s debts, the newspaper reported. The airline will also fire staff in order to cut spending, it said.
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