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HARARE- State owned Air Zimbabwe has been placed under judicial management after its debt rose to $140 million leaving it facing possible liquidation. On Friday, the High Court appointed a judicial manager and barred the Air Zimbabwe board from any involvement with the company.
HARARE- The Minister of Transport and Communications, Nicholas Goche, has issued a circular to stop Air Zimbabwe management from flying its aircraft to South Africa and the United Kingdom where one of its long haul Boeing 767 aircraft was recently impounded over an outstanding debt.
HARARE- Government made frantic efforts to pay off a US$1,5 million debt to secure the release of an Air Zimbabwe plane impounded in London mainly because President Robert Mugabe wanted to use it on his medical trip to the Far East.
LONDON- The seizure of an Air Zimbabwe plane in London last week over a US$1,2 million debt inconvenienced hundreds of passengers. Matters got heated at Gatwick Airport resulting in the brief arrest and detention of some four passengers.
HARARE — Zimbabwe’s government has raised $1.5 million (1.2 million euros) to pay off the national airline’s debt and have an impounded airplane released in London, the company chairman said on Thursday.
HARARE- Air Zimbabwe is rushing against time to raise funds to secure the release of a plane that was seized in London before it is auctioned today. Air Zim officials yesterday said they had made “significant” progress in mobilising money to settle the over US$1 million debt.