Martin Rushmere
LIQUIDATION HAS been delayed of bankrupt cargo carrier Affretair following a government pledge that the airline, owned wholly by the government, will be privatised. Merchant Bank of Central Africa has withdrawn its application for liquidation, although it is still owed R4 million going back several years.
The High Court in Harare was told by government lawyers that the airline was earmarked for fast track privatisation, meaning that it will be sold within the next year.
Affretair's total overdue debt is about R200 million. DHL Aviation is owed about 40% of this. The airline no longer operates any aircraft and leases space from foreign carriers.
The government says it wants to cut its shareholding to 51%.
According to a plan drawn up by the Privatisation Agency partners are being sought among DHL International, Gatwick Handling and Phoebus Apollo of South Africa.
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