Mozambique’s Ministry of Finance has revealed that Aeroportos de Mozambique and the national airline LAM (Linhas Aéreas de Moçambique) together account for nearly $400 million in public debt, representing approximately half of the total liabilities held by Mozambique’s State Business Sector.
The government of Mozambique has confirmed the payment of US$3 million to euroAtlantic Airways (Portugal) as part of the termination settlement for a contract involving LAM – Linhas Aéreas de Moçambique, the state-owned national carrier. While the amount satisfies Mozambique’s obligations, it remains below the level of compensation originally demanded by euroAtlantic.
LAM, the national carrier of Mozambique, has decided to return its Boeing 737-300F, identified by serial number 28567, to its lessor. This aircraft, which was designated for freighter operations, will be returned without having completed a single flight under LAM’s operations.
LAM – Linhas Aéreas de Moçambique, the national airline of Mozambique, has been suspended from the International Air Transport Association (IATA) Clearing House (ICH), a key global billing and settlement service for airlines.
