Air Zim’s two grounded, leased A320s accruing arrears

Dino D'Amore
By Dino D'Amore May 13, 2016 20:37

Air Zim’s two grounded, leased A320s accruing arrears

It has been revealed that two A320s leased by Air Zimbabwe from China Sonagal, which has a small fleet of A319s and A320s, have been grounded since shortly after they were leased in 2012. The airline is accruing arrears with the leasing company of approximately $200,000 a month, totaling over $2 million by the end of April 2016.

The details were revealed by Transport and Infrastructural Development Minister Dr Joram Gumbo, who testified before the National Assembly yesterday.

Gumbo said that the lease of the aircraft were “part of efforts by Government to support the turnaround process of Air Zimbabwe. The aircraft are on a dry lease from China Sonangol at $200 000 per month per plane.”

Gumbo also confirmed that the airline was not able to meet the lease payments. “The aviation business is intricate and not doing well the world over. When this deal was agreed upon it was possible to meet the payments but as of now it is not possible. Those in the aviation industry are finding it difficult but it’s about us making a decision of whether we remain in the business or we pull out.”

Dino D'Amore
By Dino D'Amore May 13, 2016 20:37