Air Zim concluding a debt assumption process
Air Zimbabwe administrator Reggie Saruchera is locked in talks with government to conclude a debt assumption process of the national flag carrier’s debt.
In a notice to all creditors last week Saruchera said the debt assumption is a prerequisite to the turnaround of the airline and the coming on board of a strategic partner.
He said, of the debt, US$30 million is owed to foreign creditors while nine government-related firms are owed $292 million.
As part of efforts to turnaround its fortunes, Air Zimbabwe last week acquired a new plane to boost its fleet.