Air Zimbabwe may face liquidation

Air Zimbabwe has been
placed under judicial
management and may face
liquidation after the airline’s
debt rose to US$140 million,
reports www.newzimbabwe.
com.
The application to place
the struggling national
airline under judicial control
was made by the airline’s
employees who are owed
about US$35m in salary
arrears.
The High Court has
since appointed Innocent
Mavhunga, a chartered
accountant, as the airline’s
judicial manager and barred
the Air Zimbabwe board
from any involvement with
the company.
The development came
after chief executive
Mavhunga wrote to
President Robert Mugabe
pleading for government
assistance in keeping the
company afloat.
The workers’ lawyer,
Caleb Mucheche, said his
clients had not been paid
their salaries since 2009.