Zimbabwe moves to privatize state-owned airline

Air-Zimbabwe

Zimbabwe has invited bids for struggling state-owned airline as President Emmerson Mnangagwa’s government pushes ahead with a drive to privatise and end state funding to loss-making firms, Air Zimbabwe’s administrator said on Monday.

Air Zimbabwe, which owes foreign and domestic creditors more than $300 million, was in October placed into administration to try and revive its fortunes.

The troubled airline is among dozens of state-owned firms, known locally as parastatals, that are set to be partially or fully privatised in the next 9 months as the government seeks to cut its fiscal deficit seen at 11 percent of GDP this year.

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