Africa Monitor Intelligence
Mozambique: LAM in Technical Bankruptcy Forces Government to Make a New Capital Injection
At the moment, LAM depends on leased aircraft, namely two Boeing 737s and two Q400s produced by Canadian Bombardier Aerospace, in a business suspected of involving commissions for managers of LAM and the Government, which, despite constant complaints, hitherto ignored by the PGR.
These aircraft were leased abroad, in a package that also included expatriate crew members living in a hotel, with costs borne by LAM, while there are a dozen pilots and company commanders who are on the ground due to lack of equipment to operate.
Despite the company's deficit accounts due to failed or poorly implemented policies, the Government maintains confidence in the management of JPJ and is currently preparing for another capital injection following the worsening financial situation of the public aviation company. READ MORE