in Business & Finance

Air Zimbabwe in talks with Malaysian firm over B787 lease

Posted 31 October 2016 · Add Comment

Air Zimbabwe has initiated talks with an unspecified Malaysia-based firm over the proposed lease of a B787, reports ch-aviation.


Although its pair of twenty-seven year-old B767-200(ER)s have only reached half of their operational cycles, their performance, as well as their poor in-flight product, are seen as a hinderance to the state-owned carrier's ability to recapture long-haul market share lost to the likes of Emirates Ethiopian Airlines, Kenya Airways, and South African Airways. 

Zimbabwean Minister of Transport, Communication and Infrastructure Development, Joram Gumbo, confirmed ongoing talks with an undisclosed third party over technical assistance for Air Zimbabwe. 

Although debt-ridden Air Zimbabwe is eager to resume flights to destinations such as London Gatwick and Guangzhou given increasing pressure on the domestic and regional market fronts, it has been unable to do so given the threat of aircraft seizure by creditor firms, in the United Kingdom in particular. 

Recently appointed CEO Rington Muzenda has said the airline is on the look out for a financial partner willing to help turnaround Air Zimbabwe and to help recapitalize it to the tune of USD500 million.

“We need USD465,000 for rehabilitation of buildings, hangar fire equipment (USD1.8 million) and airline retooling and spares (USD6.4 million), as well as USD488 million to pay laid-off staff,” said Muzenda.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Green Africa Airways has appointed Joshua Koshy

Green Africa Airways has appointed Joshua Koshy as its founding chief financial officer (CFO).

Dassault Aviation signs a binding agreement to acquire ExecuJet’s MRO operations

Dassault Aviation and Luxaviation announced today the acquisition by Dassault Aviation of the worldwide maintenance activities of ExecuJet, a Luxaviation subsidiary.

Gulfstream G280 sets city-pair record on renewable fuel

Gulfstream Aerospace has reaffirmed its commitment to sustainability by using sustainable alternative jet fuel (SAJF) to power a record- breaking flight by its class-leading super-midsize Gulfstream G280 aircraft.

Mango Airlines to install Split Scimitar Winglets on Boeing Next Generation 737-800 fleet

Aviation Partners Boeing (APB) has announced that South Africa's Mango Airlines has ordered its latest Split Scimitar Winglet technology for its Boeing Next Generation 737-800 fleet.

SAA appoints Vusi Pikoli to its leadership team

South African Airways (SAA) has appointed Vusi Pikoli to its leadership team.

Acropolis Aviation takes delivery of first ACJ320neo

Acropolis Aviation of the UK has taken delivery of the first ACJ320neo, which features new-generation engines and Sharklets to deliver a leap forward in range and economy.

AVAFA19 SK0201280219
See us at
AviAssistBT201218280219AirCargoAFA_BT220318210219AviationAfrica_BT0607280219