PW PRF AOC # 032 Frequent-flyer program PAA Royal Founded 1993 | PRF PRECISION AIR Revenue 90.8 billion TZS (2016) Fleet size 9 | |
![]() | ||
Hub Julius Nyerere International Airport Profiles |
Zanzibar dar es salaam dubai precision air emirates atr 72 boeing 777 300 hd
Precision Air Services Plc (operating as Precision Air; DSE:PAL) is a Tanzanian airline based at Julius Nyerere International Airport in Dar es Salaam, with a minihub at Mwanza Airport.
Contents
- Zanzibar dar es salaam dubai precision air emirates atr 72 boeing 777 300 hd
- Atr interview of sauda rajab precision air services ceo 2014
- History
- Shareholders
- Business trends
- Destinations
- Codeshare agreements
- Interline agreements
- Current fleet
- Historical fleet
- Accidents and incidents
- References
In 2013, it had the largest market share of all aviation traffic in Tanzania, at 48.33 per cent. The airline operates scheduled passenger services to Nairobi and airports in Tanzania.
Atr interview of sauda rajab precision air services ceo 2014
History
Precision Air was incorporated in Tanzania in January 1991 as a private airline and started operations in 1993. At first, it operated as a private charter air transport company but in November 1993 changed to offering scheduled services to serve the growing tourist market.
In 2006, Precision Air became the first Tanzanian airline to pass the IATA Operational Safety Audit. Its registration will expire 22 September 2016.
In April 2011, the airline became a public company.
Shareholders
Precision Air was privately owned until 2003, when Kenya Airways acquired a 49 percent stake, paying US $2 million, weeks after its rival South African Airways acquired a 49 percent stake in Air Tanzania for US $20 million. The remaining 51 percent was retained by Michael Shirima, the founder of the airline.
In October 2011, Precision Air floated shares in the airline stock in an initial public offering on the Dar es Salaam Stock Exchange, after which Shirima's and Kenya Airways's stakes declined and the new share subscribers owned 15.86 percent. As of March 2013, the major shareholders were:
Business trends
The trends for the Precision Air group over recent years are shown below. Because it was a private company until 2011, published figures were not generally available before the initial public offering prospectus of 12 September 2011. The figures for the group (Precision Air Services Plc and its subsidiaries Precision Handling Limited and Precise Systems Limited) (as at year ending 31 March) are:
Precision Air reported in August 2013 that for the year ending 31 March 2013, its maintenance costs increased to 23.6 billion Tanzanian shillings from 11.9 billion for the previous year. The increase was caused primarily by the high cost of maintaining its Boeing 737 fleet.
Published reports in June 2013 indicated that Precision Air had encountered substantial financial difficulties, stemming in part from losses incurred while operating flights to and from Johannesburg, South Africa. Those flights ended in September 2012. The Citizen, a Tanzanian newspaper, reported in August 2013 that the airline "desperately" needed a US $32 million bailout package from the Tanzanian government or other non-shareholder sources. The airline's problems increased in 2011 when it received only US $7.4 million of the US $17.5 million in cash that the airline hoped to receive when first listed on the Dar es Salaam Stock Exchange. Increasing fuel prices, taxes, and levies plus currency fluctuations and the refusal of minority owner Kenya Airways to contribute capital had also hurt the airline.
Destinations
As of September 2014, the airline serves the following destinations:
Codeshare agreements
Precision Air has codeshare agreements with the following airlines:
Interline agreements
Precision Air has an interline agreement with Qatar Airways, allowing the latter's passengers to connect to other East African destinations such as Arusha and Zanzibar via Julius Nyerere International Airport in Dar es Salaam and Kilimanjaro International Airport. This agreement includes e-ticketing.
Precision Air also has interline agreements for baggage and paper ticketing purposes with Alitalia, British Airways (also e-ticketing), Delta Air Lines (also e-ticketing, ending March 31, 2016), TAAG Angola Airlines (also e-ticketing), Emirates, Ethiopian Airlines (also e-ticketing), Etihad Airways, Gulf Air, Air Seychelles (also e-ticketing), Hahn Air (also e-ticketing), KLM (also e-ticketing), Kenya Airways (also e-ticketing), Swiss International Air Lines, Egyptair, Air Malawi, South African Airways (also e-ticketing), SN Brussels Airlines, Saudia, LAM Mozambique Airlines (also e-ticketing), Virgin Atlantic Airlines (also e-ticketing), RwandAir, Oman Air, Heli Air Monaco, and Zambezi Airlines.
Current fleet
The Precision Air fleet includes the following aircraft (as of September 2016):
Historical fleet
The company has previously operated the following equipment:
Accidents and incidents
According to Aviation Safety Network, as of September 2014 Precision Air has had four accidents or incidents.