The three state-owned companies, introduced earlier this year as part of LAM Mozambique Airlines new shareholding structure, will inject US130 million R2,2 billion to recapitalise the airline. According to Minister of Transport and Logistics, Joo Jorge Matlombe , the investment will be used to restructure operations and acquire new aircraft.
In February, the government transferred 91 of the airlines share capital to the state companies Cahora Bassa Hydroelectric Power Plant, Mozambique Ports and Railways and Mozambique Insurance Company.
The cash injection is expected to improve the airlines financial and operational situation through the acquisition of aircraft and addition of new routes, the stabilisation of punctuality and customer loyalty and the implementation of a new business plan for the period 2025-2030.
