Zimbabwe owes airlines $196m in trapped funds, says authority | Fin24
 
In partnership with
  • Ferial Haffajee

    Why should SAA employees pay for the sins of Dudu Myeni and Jacob Zuma?

  • The Namibian Link

    Evidence is mounting that VBS Mutual Bank aided another elaborate bank heist.

  • Mobile Merger?

    Telkom has confirmed it is in talks to buy network operator Cell C.

Loading...

Zimbabwe owes airlines $196m in trapped funds, says authority

Jul 10 2019 16:12
Godfrey Marawanyika

Zimbabwe owes airlines about $196m that’s stuck in the country due to a shortage of hard currency, according to the International Air Transport Association.

The last payment received by the industry body was in January, regional vice president for IATA in Africa, Muhammad Ali Albakri, said in an interview on Tuesday.

The group held a meeting with Zimbabwe President Emmerson Mnangagwa and will now finalise the payment plan, he added.

The country is struggling with shortages of foreign exchange including the US dollar, which is needed to transfer the proceeds of local ticket sales to airlines.

iata  |  zimbabwe  |  airline industry
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...