The Sunday News
Munyaradzi Musiiwa, Business Correspondent
THE Government is looking forward to concluding negotiations and entering into an agreement with a strategic partner for the revival of the troubled airline, Air Zimbabwe early next year.
Transport and Infrastructural Development Minister Dr Joram Gumbo confirmed that he held constructive talks with airlines from Ethiopia, Malaysia and Singapore with a view of partnering Air Zimbabwe.
Air Zimbabwe, which needs about $300 million in new capital has over the past few years been in talks with several potential investors.
“I went to Ethiopia, Malaysia and Singapore looking for a partner. We are engaged in negotiations and we are at an advanced stage because we are hoping that by early next year we would have finalised everything,” said Dr Gumbo.
He, however, could not be drawn to divulge the potential partner stating that disclosing such information was likely to jeopardise the deal.
Dr Gumbo said the fruition of the talks and coming on board of a partner for Air Zimbabwe would consequently see it plying its targeted new routes such as Bangkok, Singapore among others as well as resuming the London route as it seeks to grow its business.
The continued challenges facing Air Zimbabwe has attracted a number of other airlines who have been eating out into the national airline’s routes.
The country’s most lucrative route, Harare to Johannesburg has seen a number of new players coming in exposing the inability of Air Zimbabwe. In addition, a number of companies have been knocking on the Government’s door seeking approval to service the Harare-London route. Air Zimbabwe has not been servicing the route since 2012 after creditors threatened to seize its planes over debts. The Harare-London route was once the cash cow of the company.
@Munya_Musiiwa
