EMBATTLED flag carrier, Air Zimbabwe (AirZim), says it has successfully negotiated a debt settlement agreement with local and foreign creditors.
The airline is saddled with $349 million and US$31,5 million in local and external debts respectively. This led to its placement under reconstruction, with Grant Thornton being appointed administrator in October 2018 to protect it from litigation and attachment of assets .
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AirZim had since independence in 1980 gone through various turnaround strategies without success
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