Mon, 03 Apr 2017 13:03:44 +0000 A CONSORTIUM of investors from Zambia and Dubai have invested US$3 mil-lion for the recapitalisation of Mahogany Airline scheduled to start full opera-tions this year of 2017. Mahogany Air chief executive officer Jim Belemu said the airline, which entered the Zambian aviation industry in 2014 to conduct a pilot project, was ready to start operations and had since attracted US$3 million investment. Dr Belemu explained that the new investors would also inject in the business US$10 million next year and another US$10 million in 2019 respectively. “With the creation of new mines especially in North Western Province, the airline business is expected to receive a massive boost. In addition, the economic envi-ronment now is conducive for sustainable aviation business,” he said. He said the airline would cover most domestic routes countrywide and eventual-ly regional routes during the course of operations. Dr Belemu explained that the company would start with […]
