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Air Zimbabwe posts US$11.6 million loss as auditors warn over airline’s future
['Nyashadzashe Ndoro', 'Nyashadzashe Ndoro Is Our Investigative Journalist Based In Harare', 'Zimbabwe. He Specialises In Reporting On Governance', 'Corruption', 'Politics', 'Business', 'Social Issues', 'With A Particular Interest In Accountability', 'Public Interest Journalism. His Work Seeks To Amplify Critical Issues Shaping Zimbabwe S Political', 'Socio-Economic Landscape.']
Nehanda Radio
Air Zimbabwe (Private) Limited recorded a pre-tax loss of US$11.6 million for the year ended December 31, 2024, with auditors warning that the national airline faces material uncertainty over its ability to continue operating as a going concern.
- Advertisement -However, the auditor drew attention to the airline’s financial position, noting that current liabilities exceeded current assets by US$26 million, while the company posted a loss before tax of US$11.6 million, slightly higher than the US$10.4 million loss recorded in 2023.
- Advertisement -In its response, Air Zimbabwe acknowledged the liquidity challenges, saying payment delays occur at times because of cash flow constraints.
The audit further noted limited progress in addressing findings raised in the 2023 and 2024 audit reports.
Of the six issues followed up by the auditor, only one was fully addressed, three were partially addressed and one remained unresolved.