in Air Transport

Zimbabwe's hard currency shortage is problem for airlines

Posted 10 July 2019 · Add Comment

Zimbabwe has run up debts to African and international airlines of close to $200 million according to IATA.

The industry body said airlines are due about $196 million but remains unpaid because of a shortage of hard currency in the country.

According to IATA's regional vice president for Africa, Muhammad Ali Albakri, the last payment received  was in January, IATA has met with Zimbabwe President Emmerson Mnangagwa and Albakri said a payment plan is being finalised. 

Zimbabwe is struggling with shortages of foreign exchange including the U.S. dollar, which is needed to transfer the proceeds of local ticket sales to airlines, according to news agency Bloomberg.. 

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