Vic FallAirways

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Vic FallAirways

Messagepar AirKd » Jeu 16 Sep 2010, 08:45

Vic Falls Airways, a newly licensed privately owned indigenous airline company, has reached an agreement with United States-based firm ArrivAir LLC for the lease of a Boeing 767 aircraft over an 18-month period.

ArrivAir said the Boeing 767-200 ER, serial number CP-2521 and registration number 23107 - in approximate seat configuration of 22C/167Y - would be delivered to Harare International Airport by November 15.

The development means that Vic Falls Airways, who were on the market seeking US$25 million for capital and operational obligations, now only need US$50 000 deposit for the release of the aircraft and US$3,5 million in working capital. The airline firm would also have to pay a total of US$400 000 before the firm starts servicing identified international routes which include London, China, Dubai and Paris, subject to Government approval.

According to the letter of intent in our possession, Vic Falls Airways would pay ArrivAir US$4 200 per hour for a minimum of 330 block hours a month and US$3 200 for usage of the plane outside the agreed time. ArrivAir would provide the agreed number of flight deck and senior cabin crew, each to receive US$80 per diem, for the duration of the lease and these would be trained at Vic Falls Airways' cost with the costs cleared in advance.

Company directors Mr Moses Hunga and Mr Masiiwa Table confirmed the development yesterday and said that their capital requirements had been significantly reduced after ArrivAir agreed to less stringent lease terms. "ArrivAir has agreed to release a Boeing 767 aircraft subject to us paying US$50 000 deposit. It means we no longer need as much as US$25 million to start operations. We now only need between US$2 million and US$3,5 million.

"We now need an investor who can provide this amount in exchange for shares. We have set aside a huge chunk of shares for an investor who provides the funding. However, we will retain a controlling stake," said Mr Hunga. Mr Table said Vic Falls Airways has already been licensed by the Ministry of Transport and Infrastructure Development, but is yet to obtain an Air Operator's Certificate from the Civil Aviation Authority of Zimbabwe.

He said the firm would be ready to start operations immediately after getting an AOC from CAAZ and once it has secured the required US$3,5 million. Mr Masiiwa said Vic Falls Airways could enter into a 51-49 equity arrangement with foreign investors keen to provide the requisite funding.

While the US firm would lease airplanes to the Vic Falls Airways, ArrivAir last month hinted that they might consider entering into partnership with the local firm

An executive with ArrivAir recently confirmed the arrangement and hinted the firm may discuss the possibility of a partnership with Vic Falls Airways.

An agreement was reportedly reached with the ArrivAir, the Miami firm in the US State of Florida owned by Canadian born businessman Mr Leonard Simkovitz, for the supply of up to six airplanes, among them the Boeing 767s.

The local airline firm has however made a business decision to lease just one for a start and then decide on acquiring more after evaluating the volume of business.

Officials from the Civil Aviation Authority of Zimbabwe are expected to fly to Florida for a D-check of Boeing 767 to be leased to Vic Falls Airways.

A D-check is a heavy aircraft maintenance or inspection during which the airplane is practically taken apart and is usually done after every five years to remove faulty parts or determine whether the aircraft is fit to fly.

There has been growing interest among local and foreign investors to service domestic, regional and international routes from Zimbabwe since the possibility of full economic recovery became self evident in late 2008.

This interest was also aided by Government's open skies policy which saw the coming onboard of local private airline firm, Fly Kumba.

LonZim PLC, a London listed Zimbabwe focussed investment firm, is also at an advanced stage of registering its budget airline company, Fly 540 Zimbabwe.

It is expected that the open skies policy would help promote Zimbabwe as one of Africa's prime tourist destinations once the economy has fully recovered.
AirKd
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Enregistré le: Dim 1 Mar 2009, 16:36

Re: Vic FallAirways

Messagepar AVION » Jeu 16 Sep 2010, 08:56

Encore plus virtuel qu'Oxygène Airways
AVION
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Re: Vic FallAirways

Messagepar AirKd » Ven 17 Sep 2010, 09:10

Surtout au Zimbabwe. En même temps, ça ne peut pas être plus pire, vu les déboires d'Air Zimbabwe.
AirKd
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Enregistré le: Dim 1 Mar 2009, 16:36

Re: Vic FallAirways

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