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
Latest News

ExecuJet welcomes first Pilatus PC-24 to Africa

ExecuJet, part of the Luxaviation Group, will be the first business aviation company to operate and manage a Pilatus PC-24 Super Versatile Jet in Africa.

Why Africa looks booked to succeed

For many years, Africa has been talked of as a continent of great potential in commercial aviation. That potential has never really materialised. As Alan Dron reports, the authors of a new book believe that, at last, things are about to

First ACJ320neo is assembled

The first ACJ320neo has been assembled on programme, fitted with CFM International LEAP-1A engines and painted in ACJ house-colours, in preparation for a first flight in the coming weeks.

Support our industry call from new ACI boss

Bongani Maseko, new chairman of the Airports Council International (ACI), believes that, despite challenges, African aviation is becoming a strong contributor to global economic growth.

Rwanda Civil Aviation Authority recognises IATA's Airline Safety Audit Programme

Kigali The International Air Transport Association (IATA) and the Rwanda Civil Aviation Authority (CAA) signed an MoU to partner for the improvement of aviation safety.

Aerotask places a McDonnell Douglas MD-83 for AMCON

Aerotask, a Dubai-based global aviation consultancy providing Asset Management and Financial Solutions to airlines, lessors, financiers and aviation investors worldwide, has successfully transacted a McDonnell Douglas MD-83

TAA SK0902311218
See us at
AAD2018 BTAirCargoAFA_BT220318210219AviationAfrica_BT0607280219MarrakechAirshow BT2507241018GroundHandling BT2205130918