Bloomberg News

Air Zimbabwe Owes $150 Million, Transport Minister Says

March 12, 2012

Air Zimbabwe Pvt Ltd., the southern African country’s state-owned airline, has debts of $150 million, which is deterring potential investors, Transport Minister Nicholas Goche said.

“Of that debt only $30 million is owed to foreign creditors,” Goche told lawmakers today in Harare, the capital. “The debt must be cleared, we must clear what we owe to IATA first,” he said, referring to the international air trade body.

In December one of the airline’s Boeing 767 jets was impounded at London’s Gatwick airport over $1.2 million owed to American General Supplies and flights to neighboring South Africa were suspended over fears that other aircraft could be seized for outstanding debts.

To contact the reporter on this story: Godfrey Marawanyika in Johannesburg at gmarawanyika@bloomberg.net

To contact the editor responsible for this story: Hilton Shone at hshone@bloomberg.net


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