The Mozambican government has taken on the Abu Dhabi-based aviation consultancy, Knighthood Global, to assist it with the restructuring of the national carrier.
According to a statement by the consultancy, it will work with the airlines new shareholders, Hidroelctrica de Cahora Bassa, SA, Portos e Caminhos de Ferro de Moambique EP, and Empresa Moambicana de Seguros SA who have a mandate to procure the appropriate aircraft and re-establish a fleet.
On February 5, the Mozambican government authorised the sale of 91 of the states stake in LAM to state-owned companies, as a part of a plan to restructure the airline and acquire aircraft, reported here by Travel News .
The Mozambican governments previous restructuring contract with South African aviation consultancy, Fly Modern Ark , from April 2023 till September 2024, is now allegedly the subject of a forensic audit the Mozambican Central Office for Combating Corruption reported in April.
Club of Mozambique reports that the investigation has so far found that LAMs abnormal losses allegedly could not be solely attributed to the management of Fly Modern Ark, but were a result of long-term corruption at the carrier.