New airline for Tanzania?

7/20/2010 11:11:18 AM

Chinese investors have pressured Tanzania to set up a new state airline to replace the ailing Air Tanzania (ATCL).   The formation of a new airline now is likely to be announced after the end of the national parliamentary session.   Hong Kong-based investor Sonangol International reportedly said it does not want to be associated with the debts ATCL accumulated - allegedly due to poor management, corruption and overstaffing.   ATCL's debt is estimated to be more than US$20 million.   Aircargo Asia Pacific

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