REVENUE REPATRIATION
Zimbabwe owes SAA $60m in plane ticket sales
Zimbabwe is among the top five countries in the world struggling to repatriate airline ticket revenues, with the International Air Transport Association (Iata) saying blocked funds in the country total $76m. Zimbabwe owes the largest chunk of the debt to South African Airways (SAA). About $60m in SAA ticket sales remain unrepatriated from that country. Given SAA’s precarious position, the airline is now turning to high-level government assistance to get Harare to pay up. The only countries whose debts exceed that of Zimbabwe are Venezuela ($3.78bn), Angola ($386m), Sudan ($170m) and Bangladesh ($95m), Iata says. President Emmerson Mnangagwa’s government was trying to stitch together a plan to settle part of the SAA debt in a bid to stave off diplomatic pressure from its South African counterpart and from Iata, sources in Harare said. SAA dominates the lucrative Harare-Johannesburg route, flying five times a day. It also flies to Bulawayo, the second largest city, as well as Victoria...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.