The troubled national Airline Air Zimbabwe which is currently sitting on a $350 million debt has been placed under administration.
The government issued a reconstruction order for Air Zimbabwe Private Limited and Air Zimbabwe Holdings Private Limited. The reconstruction order was published in the government gazette.
The Air Zimbabwe board was dismissed and senior executives and managers will now have to report to the administrator.
The reconstruction order saw the appointment of Francis Saruchera of Grant Thornton Zimbabwe as the administrator to be assisted by Tonderai Makubvu and Tinashe Mawere, also from Grant Thornton Zimbabwe.
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