Harare (New Ziana) – The successful turnaround of Air Zimbabwe, which is currently under reconstruction, requires sustained financial and material support from all stakeholders, company administrator Reggie Saruchera has said.

Air Zimbabwe was placed under reconstruction in 2018 following years of under-performance largely attributed to operating a depleted and aged fleet and mismanagement.

The airline’s operations are also weighed down by a huge debt overhang of over US$300 million owed to various creditors.

As the debts mounted, Air Zimbabwe discontinued some of its lucrative routes, for example, the Harare-London which it abandoned after a debtor impounded its plane over a $1.2 million debt in 2011.

In light of the challenges at Air Zimbabwe, the government appointed Saruchera, who is no stranger to reviving ailing firms, to work his magic on the national airline.

Saruchera of accounting and advisory services firm Grant Thornton Zimbabwe, said the recent acquisition of a Boeing -777 by the government for Air Zimbabwe was a step in the right direction towards reviving the airline.

“The successful turnaround of Air Zimbabwe is anchored on a shared vision and collective efforts from all stakeholders,” he said.

“Continued equipment and financial support, demonstrates the government’s commitment and resolve to deal decisively with the challenges being faced by the national airline.”

Saruchera said a fully functional Air Zimbabwe would benefit the local economy.

“The main objective of the reconstruction process is to allow for the recovery, the restructuring and the re-organisation of Air Zimbabwe to ensure sustainable and viable operations going forward,” he said.

The government is determined to revive the fortunes of the national airline so that it contributes to boosting the tourism sector, which it has identified as a low hanging fruit in efforts to revive the economy.

New Ziana