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Selling Air Zimbabwe would be a challenge given its financial state: Minister

17-Jun-2011 12:34 PM

Zimbabwe State Enterprises and Parastatals Minister Gorden Moyo told a Parliamentary Portfolio Committee on State Enterprises and Parastatal Management that finding an investor to purchase Air Zimbabwe would be a challenging task (News Day, 16-Jun-2011). “There are certain entities where we think surely, government should be out of. But it may not be easy to sell Air Zimbabwe right now even if you want to offload it because you may not find a taker because of its state,” Mr Moyo said. He however added that the challenges facing the carrier are not unique to Zimbabwe.

Zimbabwe Government: “It is not just Air Zimbabwe which is suffering — very few airlines are doing business and it might be a big problem to sell Air Zimbabwe. A lot of parastatals are faced with huge debts and this on its own makes our parastatals unattractive to suitors. To get investors investing in a shell is not easy because of this debt overhang,”  State Enterprises and Parastatals Minister Gorden Moyo. Source: News Day, 16-Jun-2011.