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.