HomeLocal NewsAirZim secures $2,9m rescue package

AirZim secures $2,9m rescue package

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Air Zimbabwe, whose planes have remained grounded for the past month due to a pilots’ salary strike, reportedly secured a $2,9 million rescue package from government last Friday.

Sources at the airline said they have since received their June salaries following the unexpected cash injection.

“We got our June salaries today (Friday). We understand they might have secured a loan from a bank and hence we have received our salaries,” said an employee who declined to be named.

Air Zimbabwe acting chief executive officer Innocent Mavhunga could not confirm nor deny the development.

“All I know is that our shareholder is in the process of securing some money for us. There are promises and there is some money that could come.”

But the source said: “$1,3 million has been used to pay for the June salaries, while the balance was used to pay part of what we owe to the British and South African creditors. We might not be able to resume flights because we still have huge debts.
Creditors (are) demanding about $14 million.”

The source also said pilots had since started training as they had remained grounded for more than one month.

Air Zimbabwe pilots downed tools on July 29, demanding payment of their June and July salaries. Last Tuesday, other workers told NewsDay they had also clocked three months without receiving salaries.

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