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Air Zimbabwe now bankrupt
Published: June 4, 2009
Harare(ZimEye)Several Air Zimbabwe employees are to be retrenched within the next 12 months as the national airline has become bankrupt. The cash strapped parastatal cited under capitalization, huge debts and critical foreign currency shortages as the major challenges that it is facing.
Air Zimbabwe Chief Executive Officer Dr. Chikumba confirmed that up to 480 employees will be retrenched within the next 12 months. The exercise will affect almost every department and is expected to keep the company afloat given the harsh economic conditions.
“The airline is in the intensive care unit. We are battling for survival and cannot afford to maintain the current number of employees” said Dr Chikumba.
He pointed out that the company cannot even afford to employ more than 800 workers.
Air Zimbabwe has been badly affected by viability challenges owing to difficult operating conditions and the global economic recession. (ZimEye, Zimbabwe)
4 Comments on "Air Zimbabwe now bankrupt"
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Brownsugar, Chigwell on Thu, 4th Jun 2009 5:30 pm
why dont they admit that they squnadared monies, editor did not mention how many planes Zim owns. Last yr one of the planes docked in Vic Fall for days after carrying people to Mujuru (blood diamond) daughters wedding. Did the Mujuru camp pay anything toward Air Zim flight 4 guests??? editor rewrite. please
Kumi on Fri, 5th Jun 2009 8:30 am
True, the story is incomplete. There has been severe mismangement & corruption as the national airliner. In the retrenchment scheme, the first to go should be Dr Chikumba.
Thabani Ngwenya on Sat, 6th Jun 2009 11:33 am
When did Chikumba become a Dr?
Bruce Derere Ph.D on Sat, 6th Jun 2009 9:52 pm
I did the same doctorate with him at UZ 4 years ago. He was a brilliant prank!