|Hubs||Julius Nyerere International Airport|
|Focus cities||Mwanza Airport|
|Frequent-flyer program||PAA Royal|
|Subsidiaries||Precision Handling Limited|
|Company slogan||You Are Why We Fly|
|Headquarters||Dar es Salaam, Tanzania|
|Revenue||TSh 176.4 billion (FY 2013)|
|Profit||TSh (30.4) billion (FY 2013)|
It is the largest airline in Tanzania based on fleet size, destinations served, and passengers carried, having had a market share of 58.8 percent in 2011. The airline operates scheduled passenger services to ten airports in Tanzania as well as to Comoros, the Democratic Republic of the Congo, Kenya, Uganda, and Zambia.
Precision Air was established in 1993 and began as a private charter air transport company but expanded to serve the growing tourist market. Scheduled services started in November 1999.
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 2012, the major shareholders were:
|Name||No. of Shares||Interest|
|Precision Air Employee Stock Option Plan||1,765,300||1.10%|
|Tanzania Standard News Papers Limited||300,000||0.19%|
|Quality Group Limited||210,500||0.13%|
|National Investment Company Limited (NICOL)||200,000||0.12%|
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 (as at year ending 31 March) are:
|Turnover (TZS m)||54,341||57,988||84,344||92,493||113,606||163,061||176,383|
|Profits (PBT) (TZS m)||5,534||5,671||2,818||1,924||2,159||2,232||−31,383|
|Number of employees||576||657||704||717|
|Number of passengers ('000)||465||538||667||825||896|
|Passenger load factor (%)||64||58||62|
|Number of aircraft (at year end)||10||10||11||12|
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 because it did not receive the cash that was expected when the airline was 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.
As of December 2013, the airline serves the following destinations:
|Dar es Salaam||Tanzania||DAR||HTDA||Julius Nyerere International Airport|
|Entebbe||Uganda||EBB||HUEN||Entebbe International Airport|
|Kilimanjaro||Tanzania||JRO||HTKJ||Kilimanjaro International Airport|
|Nairobi||Kenya||NBO||HKJK||Jomo Kenyatta International Airport|
|Zanzibar||Tanzania||ZNZ||HTZA||Abeid Amani Karume International Airport|
Precision Air has codeshare agreements with the following airlines:
- Kenya Airways (various routes)
- LAM Mozambique Airlines (Maputo–Nampula–Pemba–Dar es Salaam)
- RwandAir (Kigali–Kilimanjaro)
Precision Air has an interline agreement with Qatar Airways, allowing the latter's passengers to connect to other East African destinations such as Arusha, Mombasa, Moroni, and Zanzibar via the Julius Nyerere International Airport in Dar es Salaam, Tanzania.
The Precision Air fleet includes the following aircraft (as of July 2013):
5H-PWG is configured with only 66 seats
|ATR 72-600||—||1||Delivery in 2014|
The company has previously operated the following equipment:
Accidents and incidents
- 26 July 1999: A Let L-410UVP-E9, tail number 5H-PAB, made a belly landing at Arusha Airport on a training flight while doing touch and go. The two crew and three passengers were not injured.
- 16 November 2004: A Let L-410UVP-E20, tail number 5H-PAC, crash landed while on a training flight at Kilimanjaro Airport. The two pilots, who had not put on their shoulder straps, sustained facial injuries.
- 8 July 2007: An ATR 72-212, tail number 5H-PAR, had a runway excursion on landing at Jomo Kenyatta International Airport runway 06. It veered off to the right, went over a ditch, and came to a stop on Taxiway F. The nose wheel collapsed. The four crew and 62 passengers were not injured. The aircraft was substantially damaged. The probable cause of this accident was power asymmetry during application of reverse thrust on landing. The control levers were jammed in one position.
- 13 December 2013: An ATR 42-600 (5H–PWI) made a safe landing at Arusha Airport after its four tyres deflated upon landing. All 37 passengers and 4 crew were safe.
- "Directory: World Airlines". Flight International. 10 April 2007. p. 65.
- "Precision Air enhances its operations from Mwanza". 1 February 2013. Retrieved 1 February 2013.
- "Air Operators - Market Share 2009-2011" (PDF). Tanzania Civil Aviation Authority. 2011. Retrieved 30 January 2013.
- "Precision Air Destinations". Precision Air. Retrieved 30 January 2013.
- "Precision Air History". Precision Air. Retrieved 11 June 2013.
- "Precision Air - Apg". Retrieved 11 June 2013.
- "Kenya Airways To Buy 49% of Precision Air"
- "Directors Report and Financial Statements 31 March 2012". 16 August 2012. Retrieved 15 December 2012.
- "Prospectus". 12 September 2011. Retrieved 24 August 2012.
- "Super Brand Precision Air (PW) pleased with 2012/2013 performance", The Financial Junction, 17 April 2013
- "Directors' Report and Financial Statements 31 March 2013". Precision Air. Retrieved 22 November 2013.
- Releases/Precision Air Financial Results.pdf "Precision Air Financial Results 2012/2013". Precision Air. 30 August 2013. Retrieved 6 September 2013.
- "Precision Air's financial troubles go into public domain", eTurboNews, reported by Wolfgang H. Thome, 10 June 2013
- "Precision Air to Cancel Johannesburg Service from mid-Sep 2012", Airline Route, 27 August 2012
- "Precision Air's Sh51bn bailout appeal to State", The Citizen, reported by Veneranda Sumila, 14 August 2013
- "Partners & Alliances". Kenya Airways. Retrieved 31 January 2013.
- "Precision Air enters into code share with Mozambique Airlines". Precision Air. 6 March 2012. Retrieved 31 January 2013.
- "Partners and Alliances.". RwandAir. Retrieved 31 January 2013.
- "Qatar Airways and Precision Air announce partnership" (Pressrelease). Qatar Airways. 1 November 2011. Retrieved 31 January 2013.
- Tanzania's Precision Air goes all prop after last 737 is withdrawn
- "Tanzania’s Precision Air Services signs contract for 5 ATR -600s".
- "Accident record for Precision Air". Aviation Safety Network. Retrieved 8 April 2012.
- Accident description for 5H-PAB at the Aviation Safety Network. Retrieved on 8 April 2012.
- Accident description for 5H-PAC at the Aviation Safety Network. Retrieved on 8 April 2012.
- Accident description for 5H-PAR at the Aviation Safety Network. Retrieved on 8 April 2012.
- "Precision Air plane in touchdown fright". Daily News (Tanzania). 14 December 2013. Retrieved 16 December 2013.
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