Fly Modern Ark has submitted a proposal to the Zimbabwean government to buy a 25% shares in Air Zimbabwe, Founder Theunis Crous told Tourism Update. The move would result in an injection of $220m in new assets for the airline.

Fly Modern Ark’s proposal comes as the new Zimbabwe government has invited bids for stakes in up to eight loss-making state-owned enterprises, including Air Zimbabwe.

Under the deal, $193m will be used to acquire aircraft, $16,1m will be used for training and support, and $10,9m will be used on operations, safety and marketing.

Fly Modern Ark has been contemplating domestic routes in South Africa since last July although flights have yet to launch. With 12 aircraft, the airline said it wanted to offer affordable fares to the South African public, flying from secondary airports such as Graaff-Reinet and Ladysmith, as well as from rural areas.

According to Theunis, Fly Modern Ark is still planning to operate routes in South Africa, but as a feeder airline to Air Zimbabwe.