The South African company Fly Modern Ark formally enters as of Tuesday into the management of Mozambique’s state-owned carrier Linhas Aéreas de Moçambique (LAM), together with the current management of the company, as part of the Mozambican company’s recovery plan.
The Mozambican Minister of Transport and Communications, Mateus Magala, told state newspaper Notícias that the firm will put its aircraft and management capacity at the service of LAM, but did not specify the number of aircraft involved.
Magala said that the two companies will cooperate for six months, which may be extended for the same period, as part of the recovery efforts of the Mozambican flag carrier. The minister defended the need for LAM to be handed over to a “good management, within a favorable regulatory environment.”
“This is what we want to achieve soon, so that passengers can benefit from greater access to our LAM,” said Mateus Magala. The change was announced on April 5, when Magala said that LAM would be “under the responsibility of a management commission: they are international managers who will work with the current management to improve the value of LAM.”
Official data indicate that LAM has an estimated debt of US$300 million (275 million euros).