Air Zimbabwe rejects restructuring proposals
Air Zimbabwe has rejected two turnaround proposals from NextFlightAir, after struggling to resume operations with a USD300 million debt.
Tan Ahmed, NextFlightAir’s director of operations, said the first proposal saw the firm assuming the carrier’s Harare Int'l to London Gatwick and Guangzhou routes covering all expenses and returning USD500 000 per month, whilst the second used a more comprehensive restructuring plan for the airline.
In the second proposal, the carrier would have used three 35-seater turboprop aircraft for domestic flights, three 85-seater aircraft for regional operations and two wide-body jets for long-haul flights.
Revenue was projected at USD33 million per quarter for six months with a growth projection of 3% quarter on quarter.
Partnerships with other airlines would have also played a part in the restructuring, in the form of code-shares, interlines and frequent flyer cooperation.
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