Air Zimbabwe has experienced another setback as its plan to lease four Boeing 777-200ERs from a Malaysia-based lessor is in jeopardy over lack of funds, reports Zimbabwe's NewsDay. According to the reports, the airline which is wholly owned by the government of Zimbabwe, has failed to secure the requisite foreign currency needed to fund the four long-haul aircraft. “Most of the groundwork had been done and what was left was Air Zimbabwe to pay to activate the lease but the airline does not have the money and the shareholder (government) for now has no capacity,” NewsDay was told. Air Zimbabwe was planning to deploy the four ex-Malaysia Airlines Boeing 777 aircraft on long-haul flights from Harare to international destinations including London and the Far East.

In April this year, the Zimbabwean government said it was going to re-brand and overhaul the struggling and debt-ridden flag carrier in a bid to resuscitate it.

As part of a turnaround strategy to bring struggling Air Zimbabwe back to profitability from a $300m debt, the Zimbabwe's national airline sacked 200 of its workers, roughly half of its staff.