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Air Zimbabwe losing $2million per month: Minister Gumbo

6 years agoTue, 22 Aug 2017 12:57:38 GMT
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Air Zimbabwe losing $2million per month: Minister Gumbo

Troubled state-owned Air Zimbabwe is reporting losses of $2 million per month. The losses have been attributed to mismanagement, high operating costs and old equipment. In addition, Air Zimbabwe is also facing stiff competition from other airlines which are expanding aggressively. The airline currently owes $300 million in debt and has been relying on frequent bailouts.

Minister of Transport and Infrastructural Development, Joram Gumbo said, this was unsustainable. Said Gumbo

Air Zimbabwe is running at a deficit. The monthly financial reports show that the airline is making huge losses of up to $2 million every month. This is bad, we can’t continue like this.

There are big weekly requests asking for fuel and we have had to intervene. Our planes are not enough to sustain the business. We have just three planes that fly, that are fully functional.

We have had to be realistic and look at things as they are. We can’t pretend that things are okay when they are not. The aviation industry the world over is not doing well so far and we have not been spared from the global aviation crunch

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