Air Zimbabwe plans to acquire six new aircraft over the next three years for US$775,5 million, according to the national airline’s strategic plan.
The move is the centrepiece of a five-year strategic turnaround plan designed to revitalise the national carrier’s domestic, regional, and international operations.
Backed by the Mutapa Investment Fund and the national Treasury, the procurement is meant to replace the airline’s ageing fleet of Boeing 737s and 767s.
By transitioning to modern, fuel-efficient models, the airline anticipates a significant reduction in the high maintenance costs that have historically burdened its balance sheet.
The investment is structured to address specific operational deficits through a three-tiered expansion.
Two aircraft, valued at US$49 million each, will be dedicated to internal routes. The planes are expected to increase flight frequencies and support the growth of the domestic network.
The airline plans to acquire two regional jets priced at US$101 million each.
This phase aims to reclaim market share on routes dominated by regional competitors.
The crown jewel of the plan involves the acquisition of two long-haul, wide-body jets at a cost of US$225 million each.
These aircraft are earmarked for the resumption of direct flights to key global destinations, reconnecting Zimbabwe to international markets.
The initiative follows the airline’s recent transition under the management of the Mutapa Investment Fund, which is tasked with providing professional oversight and ensuring the commercial viability of state-owned enterprises.
The recapitalisation initiative aligns with the Government’s National Development Strategy 2 (NDS2), which prioritises enhancing destination connectivity and accessibility to boost the tourism sector.
Under NDS2, the Government is committed to opening the skies to new airlines and facilitating more seamless connections between Zimbabwe’s tourism hubs and major global source markets.
Beyond the aircraft, the Government plans to support this growth by reviewing the visa regime for tourists and entering into strategic agreements with new airline partners, ensuring Zimbabwe remains aligned with global aviation and tourism practices.
Air Zimbabwe was founded in 1967 and its roots can be traced back to 1946 when it was known as Central Africa Airways and operated as a joint airline for Nyasaland, Southern Rhodesia and Northern Rhodesia.
The tripartite operations continued until 1967, when the joint operations ceased, leading to the formation of Air Rhodesia.
It operated as Air Rhodesia until 1980, when Zimbabwe attained independence and adopted the name Air Zimbabwe.
The airline operated as Air Zimbabwe Corp until 1997, when Air Zimbabwe Pvt Ltd was created in terms of the Air Zimbabwe Corporation Repeal Act of 1998.
In 1980, Air Zimbabwe had 18 aircraft and was a major regional and international aviation player.
The airline has been in a downward spiral since 2003, with passenger numbers significantly falling from one million in 1999 to less than 20,000 in 2016. – Herald
