THE term of office for Air Zimbabwe administrator expires at the end of June, paving way for the airline’s board to take charge of the parastatal’s affairs, Transport and Infrastructural Development Minister, Felix Mhona, has said.
Due to a combination of huge debts, viability problems and a weak balance sheet, Air Zimbabwe was in October 2018, placed under a reconstruction administration of Grant Thornton to prevent legal action and attachment of the entity’s assets.
“The term of office of the administrator is coming to an end at the end of June.“The assumption now is by the time the administrator leaves Air Zimbabwe, the board will then take charge of the affairs of Air Zimbabwe,”
said the minister in an interview with ZBCtv on its “Face the Nation” programme aired on Tuesday evening.
He dismissed the perception that Air Zimbabwe was grounded.
“As we speak now, there is a perception out there that Air Zimbabwe is grounded, but if you remember well, a month ago…one of our planes had to go to China to pick up the vaccines (Covid-19 vaccines).“When you see our colours in the air, it shows that we’re still there,”
The Government is set to assume Air Zimbabwe’s debt, which has been validated as $349 million (local) and US$30 million being foreign.