WANTED: An investor for Zim airline

iStock
iStock

The Zimbabwean government has floated a tender seeking investors for its struggling airline, Air Zimbabwe.

"Tenders are hereby invited from interested parties to invest in Air Zimbabwe," reads the invitation, published on Monday.

The airline has a crippling debt of $377m, according to Transport and Infrastructural Development Minister Joel Biggie Matiza, who said in order to attract a partner, the southern African government would have to assume the debt.

"Currently, the debt is at $377m. Of this debt, however, $35m is foreign and $260m is government and state enterprises," said Matiza.

Engagements are already underway to warehouse the Air Zimbabwe debt, as government has approved the debt warehousing proposal, Matiza told a 2019 pre-budget seminar in Bulawayo on Friday.

Air Zimbabwe was, with effect from 4 October 2018, placed under reconstruction in a bid to revive its operations.

Only two out of its six planes are running.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
16.18
(-0.05)
ZAR/GBP
21.19
(-0.00)
ZAR/EUR
19.17
(-0.15)
ZAR/AUD
11.58
(-0.24)
ZAR/JPY
0.15
(-0.17)
Gold
1910.75
(+0.32)
Silver
24.78
(+0.42)
Platinum
889.00
(+1.02)
Brent Crude
42.50
(+1.69)
Palladium
2371.00
(+0.65)
All Share
55302.74
(+0.92)
Top 40
50740.30
(+0.92)
Financial 15
10468.17
(+0.89)
Industrial 25
74807.05
(+0.91)
Resource 10
53306.44
(+0.92)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
24% - 55 votes
No, I did not.
49% - 112 votes
My landlord refused
27% - 61 votes
Vote