Zimbabwe Buys Four Boeing 777 Aircraft From Malaysia Airlines
(Bloomberg) -- Zimbabwe will this month receive two Boeing 777s from Malaysia as part of a deal to buy four of the jetliners and a further eight Embraer aircraft in a bid to turn around the fortunes of the southern African country’s ailing state-owned airline.
The government will retain ownership of the used aircraft from Malaysia Airlines and lease them to a state-owned company to be named Zimbabwe Airlines, as the state-owned Air Zimbabwe “develops a credible business plan,” Finance Minister Patrick Chinamasa told reporters in the capital, Harare.
Air Zimbabwe has debts of about $330 million and was banned from operating in the European Union in May last year on safety concerns.
©2018 Bloomberg L.P.