25 January 2012

Air Zimbabwe is facing possible liquidation

In response to an application filed by Zimbabwe's National Airways Workers Union and Air Transport Union demanding the payment of unpaid compensation of US$35 million going back to 2009, Air Zimbabwe was placed under judicial management by the Zimbabwean High Court.
According to Caleb Mucheche, the lawyer representing the workers of Air Zimbabwe, the struggling airline is now facing a possible liquidation after the High Court appointed a judicial manager and barred the Air Zimbabwe board from any involvement with the company.
Zimbabwe's newspaper "The New Zimbabwe" is furthermore reporting in their online edition that Air Zimbabwe is currently battling a US$140 million debt pile including obligations to the National Social Security Authority (NSSA), Zimbabwe Revenue Authority (ZIMRA) as well as the workers’ medical aid and pension schemes.

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