Air Zimbabwe creditors take massive hit

Zimbabwe's Kuva Air launches using E120 capacity

Air Zimbabwe to convert B777s into freighters

Air Zimbabwe (UM, Harare Int'l) is looking to wet-lease or dry-lease its two in-house B777-200(ER)s in the short-term and later convert them into freighters, says Acting Chief Executive Officer Tafadzwa Zaza.

“We are not in a position to operate them now before we consolidate on the domestic or regional [front]. So, as a short-term plan, we want to lease those aircraft either as wet-lease or dry-lease and we invite investors interested in those. The long-term plan is to convert either one or all of them, into cargo aircraft,” he told the state-run Sunday News.

The B777-200(ER)s, Z-NBE (msn 28422) and Z-RGM (msn 28421), are currently stored at Harare Int'l, according to the ch-aviation fleets advanced module. They are the 17-year-old former 9M-MRQ and 9M-MRP with Malaysia Airlines (MH, Kuala Lumpur Int'l) and are configured in a two-class layout with 247 seats in economy class and 35 in business class.

The airline is also looking for investors to help it upgrade its short-haul fleet, infrastructure, maintenance facilities, and training facilities,...

South Africa's Africa Charter Airline resumes freighter ops

Air Zimbabwe to get new aircraft, expand routes next year

The Zimbabwean government has allocated ZWL1.5 billion Zimbabwean dollars (USD4.1 million at RBZ rate) for the recapitalisation of Air Zimbabwe (UM, Harare Int'l), to be used towards the acquisition of new aircraft, route expansion, digitalisation, and a lean workforce.

This was disclosed by Finance and Economic Development Minister Mthuli Ncube during his 2022 national budget speech on November 25. He said the recapitalisation was in support of the national airline’s six-year strategic turn-around plan.

“Air Zimbabwe is now a commercially viable company following the conclusion of the scheme of reconstruction in June 2021. This was achieved after approval by Cabinet of the national airline’s debt assumption and the settlement of its domestic debt and part of its foreign debt,” Ncube said. As reported previously, Harare had approved the airline's reconstruction scheme in May 2021. The carrier's liabilities had amounted to USD30 million in foreign debt and ZWL349 million (USD873,000) in local exposure. Domestic creditors were actually owed USD349 million, but their debts were converted to new Zimbabwe dollars at the official 1:1 rate.