Airlines Africa

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Airlines Africa

Airlines Africa October 29, 2012

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Serving the Airline Industry and Airline Professional Across Africa

Precision Air’s First AGM and Signs AASA Urges Government and for Support on ATR 42-600s Precision Air Services recently IPO, from where the airline raised Industry to Align held its first annual general meeting Tshs12 billion. (AGM) since being listed in the Dar The airline has achieved a 233 Policies and es Salaam Stock Exchange (DSE) in per cent increase in passenger numDecember 2011. bers from 249,000 in 2004 to 825,000 The airline, which is headquarin 2012, the fastest growth of any Strategies tered in Dar es Salaam posted a regional airline. The company has pretax profit of TShs 1.84 billion for the year ended March 31 2012, an increase of 18.3 percent over the previous year. Total revenues soared to Tsh163 billion from TShs 114 billion over the same period. Net profit for the year was TShs 634 million. Precision Air is the first Tanzanian airline to be listed on the bourse. 7,056 new investors joined the Precision Air family in the December 2011

expanded by covering a record 14 destinations Tanzania and Sub Sub-Saharan region with the widest network in the country. According to the Chairman of the Board, Michael Shirima, Precision Air is committed to delivering on shareholder value. “We will remain steadfastly focused on our vision of being the airline of choice. We welcome our Continued on Page 2

The sustainability and profitability of air transport in Southern Africa depended on the alignment of government policies and industry strategies, including reforms to competition and ownership rules that would stimulate growth in the sector. This was the consensus reached at the recent Airlines Association of Southern Africa (AASA) AGM and Conference held in Maputo, Mozambique and attended by over 200 industry leaders and government policy makers. The meeting took place against the backdrop of a gloomy outlook for Africa’s airlines, which are expected to record a combined $100 million loss this year (before adjustment for inflation). “Although this performance seems consistent year on year, Continued on Page 4

www.airlines-africa.com

October 29, 2012


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