– Government plans to acquire three passenger aircraft for LAM within the next three months
By Ricardo Dias
Maputo (MOZTIMES) – The recent decision by the Mozambican government to sell 91% of the shares in Mozambique Airlines (LAM) to the publicly owned companies Hidroeléctrica de Cahora Bassa (HCB), Mozambique Railways (CFM), and the Mozambican Insurance Company (EMOSE) is sparking criticism and scrutiny from governance watchdogs.
The sale, valued at 130 million US dollar, aims to restructure LAM, which is grappling with a financial crisis and a debt of 300 million dollars. The operation involves using public companies as investors to recapitalise the airline and enable the purchase of eight new aircraft.
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