Source: AirZim in $270m loss | The Financial Gazette April 26, 2018
AirZim has been in the red since 2010, when it posted a $55 million loss, with further write-downs amounting to $34 million the following year.
DEBT ridden Air Zimbabwe (AirZim) suffered a combined $270 million loss during the eight years to December 31, 2017 due to serious erosion of load factors and a plunge in passengers, a confidential report obtained by The Financial Gazette has revealed.
AirZim has not been tabling its financial statements before Parliament, a violation of the Public Finance Management Act.
And government has kept the public in the dark over a vicious cycle of debts and plummeting revenues that have crippled the 74-year old airline.
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