Govt to spend $1b on new planes to establish Zimbabwe Airways

The government is set to spend at least $1 billion dollars to acquire 4 new Boeing 777-200ER planes from Malaysia Airlines, as it seeks to close down financially troubled Air Zimbabwe and establish a new line, Zimbabwe Airways. It is reported that the government actually wants to buy the planes instead of merely leasing them. The Malaysian planes are twelve years old and a Boeing 777-200ER plane is currently listed at around $260 million. Malaysia is restructuring its airline by reducing its long-haul fleet, including its 12-year old Boeing 777s. The planes are reportedly viewed as cursed in Malaysia after two they lost two Boeing 777s just months apart last year.

However, it seems that only Chief Operating Officer Simba Chikore and Transport Minister Joram Gumbo are the only people involved in the deal with the rest of the executives including the CEO and the board in the dark.

It is not clear, where the money to purchase the planes will come from.

More: Fingaz

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