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Zimbabwe state airline faces liquidation

2012-01-22 20:57

Harare - State media says Zimbabwe's ailing national airline has been put under judicial management ahead of its probable liquidation.

The Sunday Mail reported on Sunday that the High Court in Harare appointed an executive of a top independent accounting firm to takes charge of Air Zimbabwe, sweeping aside all powers of the board of directors.

It said the court order on Friday followed claims by pilots and employees for unpaid income and allowances of up to $35m dating back to January 2009.

Last month the former colonial-era airline, founded in 1964, paid $1.2m to release an aircraft impounded over debts in Britain. It owes $140m to its creditors and has now grounded all but some domestic flights.

Comments
  • Henri James Christie - 2012-01-22 22:26

    Bob not willing to payback some of the money he has stolen. Oh, of course not, he believes that his country is prospering.

  • Marc - 2012-01-22 23:08

    Air Zim has been wobbling along for years, staggering from one financial or operational crisis to another, propped up by the Harare junta, which itself has borrowed to keep it somehow flying. The 1964 date is wrong. Its was a "colonial airline" prior to that date when it was CAA (Central African Airways)serving Northern Rhodesia, Southern Rhodesia and Nyasaland. It was partitioned financially and in terms of staff and assets when Zambia and Malawi gained their "independence". Air Rhodesia was formed, which was by definition, not a colonial operation, since the government had declared UDI. Financially, legally and operationally its links with the United Kingdom's Colonial Office and the Ministry of Overseas Development abruptly ended in 1965. In fact the office of the British Transport Secretary expressly forbade the supply of civilian aviation parts to Rhodesia after 1967. Until it became Air Zimbabwe-Rhodesia in 1979 and finally Air Zimbabwe in 1980 it remained a fully operational, financially successful, and dependable airline much to the stupification and annoyance of the British Government. After 1980, it was mostly in continuous descent.

  • Chaapo - 2012-01-22 23:19

    About time to end the nonsense. We, the people were not benefiting from these scotch carts that were subsidized for the political elite so there is no loss there. It would also be criminal to continue doing so with the level of corruption and incompetence that permeated the whole management of this entity under the ZANU PF appointees who probably could not ensure that a wheelbarrow functions.

  • Francois Swais Fonternel - 2012-01-23 02:19

    Haha coming soon in RSA my friends

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