Air Zim property goes under the hammer to settle debt

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HARARE – Property belonging to State-owned Air Zimbabwe is set to go under the hammer on November 20 over monies owed to four ex-employees.Mpofu@AirZim

According to a notice on Thursday, Clicrunt Real Estate will auction insolvent Air Zimbabwe’s Vainona single story four bed-roomed house, with two en-suites, lounge, fitted kitchen, dining, entertainment area comprising a bar and changing rooms, swimming pool, guest wing, staff quarters, borehole and a 5 000-litre water tank.

It owes its former reservation manager Kingston Mbape and three others an undisclosed figure in salary arrears.

“Dully instructed by the sheriff of the High Court of Zimbabwe, we are offering the following immovable properties for sale by public auction to be held at Raylton Sports Club,” Clipcrunt Real Estate agents said in the notice.

The airliner has been battling to settle debt owed to creditors, service providers as well as employees and former employees, amounting to millions of dollars.

Air Zimbabwe has been posting staggering  losses for years due to mismanagement, high operating costs, old equipment and aircraft that are no longer profitable to fly.

 

Out of 10 aircraft, only three are flying, two are undergoing maintenance and the rest are out of service.

Early this year, former minister of Transport Obert Mpofu told Parliament that the national carrier needed at least $1 billion to recapitalise, with $298 million required to service both its domestic and foreign debts which emanated from navigation, landing, handling fees, fuel supplies, salary arrears and rentals.

He also said that government had agreed to take over the airline’s $298 million debt to make way for the company to engage strategic partners to revive the run-down airline.

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