Precision Air

Last updated

Precision Air
Precision Air logo.svg
IATA ICAO Call sign
PWPRFPRECISION AIR [1]
Founded1991
Commenced operationsNovember 1993 [2]
AOC # TCAA/AOC/003
Hubs Dar es Salaam
Secondary hubs Kilimanjaro [3]
Frequent-flyer program PAA Royal
Fleet size8
Destinations 13
Traded as DSE:  PAL
Headquarters Dar es Salaam, Tanzania
Key people
Revenue Increase2.svg TSh 117,756 million (US$50 million) (FY 2022) [4]
Profit Increase2.svg TSh −30,139 million (US$−12.8 million) (FY 2022) [4]
Employees393 (2022) [4]
Website www.precisionairtz.com

Precision Air Services Plc (operating as Precision Air; DSE:PAL) is a Tanzanian airline based at Julius Nyerere International Airport in Dar es Salaam. [5] The airline operates scheduled passenger services to Nairobi and Comoros; and to various airports and airstrips in Tanzania. [6] Kenya Airways owns 41.23% of the airline.

Contents

History

Precision Air was incorporated in Tanzania in January 1991 as a private airline and started operations in 1993. [2] At first, it operated as a private charter air transport company but in November 1993 changed to offer scheduled services to serve the growing tourist market. [2] [7]

In 2006, Precision Air became the first Tanzanian airline to pass the IATA Operational Safety Audit. [8]

In April 2011, the airline became a public company. [2]

Corporate affairs

Ownership

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. [9] [10]

In October 2011, Precision Air floated shares in its 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. [11] As of 31 March 2016, the major shareholders were: [12] : 7 

NameNo. of SharesInterest
Michael Shirima68,857,65042.91%
Kenya Airways66,157,35041.23%
Precision Air Employee Share Option Scheme 1,765,3001.10%
Other shareholders23,689,50014.76%
Total160,469,800100.00%

Because it was a private company until 2011, published figures were not generally available before the initial public offering prospectus [2] of 12 September 2011. Since then, full Annual Reports and Accounts have been published. (As of December 2021, however, those for 2019 and 2020 are still awaited.)[ citation needed ]

Available trends over recent years for the Precision Air group (Precision Air Services Plc and its subsidiaries Precision Handling Limited and Precise Systems Limited) (as at year ending 31 March) are:

200820092010201120122013201420152016201720182019
Turnover (TSh  million)57,98884,34492,493113,606163,061181,358141,262105,40090,75179,75697,108
Profits (PBT) (TSh million)5,6712,8181,9242,1591,841−30,812−11,400-83,900−91,676−26,941−21,099−31,861
Number of employees576657704717608536509436356405
Number of passengers ('000)465538667825896688452375409474481
Passenger load factor (%)645862655952525552
Number of aircraft (at year end)1010111210101010107
Notes/sources [2] [2] [2] [13] [13] [14] [15] [16] [17] [12] : 2  [18] [18] [19] [20]

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. [21] Those flights ended in September 2012. [22] 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. [23] 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. [23] [24] 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. [23]

Destinations

Precision Air ATR 42-300 at Kilimanjaro International Airport in 2006. Tanzania - Aerospatiale ATR 42.jpg
Precision Air ATR 42-300 at Kilimanjaro International Airport in 2006.
Precision Air Boeing 737-300 at Mwanza Airport in 2010. 2010-09-14 11-08-42 Tanzania Mwanza Mwanza.jpg
Precision Air Boeing 737-300 at Mwanza Airport in 2010.
Precision Air ATR 72-212A at Jomo Kenyatta International Airport, Nairobi, in 2012. Precision Air ATR 72-212A.jpg
Precision Air ATR 72-212A at Jomo Kenyatta International Airport, Nairobi, in 2012.

As of October2024, the airline serves the following destinations:

CountryCityAirportNotesRefs
Comoros Anjouan Ouani Airport [25]
Moroni Prince Said Ibrahim International Airport [25]
Democratic Republic of Congo Lubumbashi Lubumbashi International Airport Terminated [26]
Kenya Mombasa Moi International Airport Terminated
Nairobi Jomo Kenyatta International Airport [25]
South Africa Johannesburg O. R. Tambo International Airport Terminated [26]
Tanzania Arusha Arusha Airport [25]
Bukoba Bukoba Airport [25]
Dar es Salaam Julius Nyerere International Airport Hub [25]
Dodoma Dodoma Airport [25]
Kahama Kahama Airstrip [25]
Moshi / Arusha Kilimanjaro International Airport Hub [25]
Mbeya Songwe Airport [25]
Mtwara Mtwara Airport [25]
Mwanza Mwanza Airport [25]
Serengeti–Seronera Seronera Airstrip [25]
Zanzibar Abeid Amani Karume International Airport [25]
Uganda Entebbe Entebbe International Airport Terminated [27]
Zambia Lusaka Kenneth Kaunda International Airport Terminated [26]

Partnerships

Codeshare agreements

Precision Air has codeshare agreements with the following four airlines:

  1. Etihad Airways (Abu Dhabi-Dar es Salaam) [28]
  2. Kenya Airways (various routes) [29]
  3. LAM Mozambique Airlines (Maputo–Nampula–Pemba–Dar es Salaam) [30]
  4. RwandAir (Kigali–Kilimanjaro) [31]

Interline agreements

In 2011, Precision Air entered into an interline agreement with Qatar Airways, allowing the latter's passengers to connect to other east African destinations such as Arusha and Zanzibar via Dar es Salaam and Kilimanjaro International Airport. [32] This agreement includes e-ticketing. [33] [ failed verification ]

As of 23 December 2014, Precision Air also had 21 interline agreements for baggage and paper ticketing purposes with the following airlines:

  1. Air Seychelles (also e-ticketing)
  2. Alitalia
  3. British Airways (also e-ticketing)
  4. Egyptair
  5. Emirates
  6. Ethiopian Airlines (also e-ticketing)
  7. Etihad Airways
  8. Gulf Air
  9. Hahn Air (also e-ticketing)
  10. Heli Air Monaco
  11. Kenya Airways (also e-ticketing)
  12. KLM (also e-ticketing)
  13. LAM Mozambique Airlines (also e-ticketing)
  14. Oman Air
  15. RwandAir
  16. Saudia
  17. SN Brussels Airlines
  18. South African Airways (also e-ticketing)
  19. Swiss International Air Lines
  20. TAAG Angola Airlines (also e-ticketing)
  21. Virgin Atlantic (also e-ticketing) [33] [ failed verification ]

Fleet

Fleet
Precision Air ATR 42-600 (5H-PWH) at Toulouse-Blagnac Airport (LFBO).jpg
An ATR-42-600.
ATR-72-500 Precision Air Services (PRF) F-WWEW - MSN 923 - Named Kilimandjaro - Will be 5H-PWG (5000147631).jpg
An ATR-72-500.

Current fleet

As of November 2022, the Precision Air fleet included the following aircraft: [34] [35]

Precision Air fleet
AircraftIn ServiceOrdersPassengersNotes
CYTotal
ATR 42–500 2—04848
ATR 42–600 1—04848
ATR 72–500 5—07070
Total80

Historical fleet

The airline has previously operated the following aircraft:

  1. ATR 42-320 [12] : 66 
  2. Boeing 737–300 [34]
  3. Bombardier Dash 8

Accidents and incidents

According to the Aviation Safety Network Precision Air has had seven accidents or incidents. [36] One of those caused 19 fatalities. [37]

Related Research Articles

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<span class="mw-page-title-main">Jomo Kenyatta International Airport</span> International airport in Nairobi, Kenya

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Kenya Airways Ltd., more commonly known as Kenya Airways, is the flag carrier airline of Kenya. The company was founded in 1977, after the dissolution of East African Airways. Its head office is located in Embakasi, Nairobi, with its hub at Jomo Kenyatta International Airport.

<span class="mw-page-title-main">Kilimanjaro International Airport</span> Airport in located in Kilimanjaro Region, Tanzania

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<span class="mw-page-title-main">Uganda Airlines (1976–2001)</span> Defunct national airline of Uganda (1976–2001)

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<span class="mw-page-title-main">Arusha Region</span> Region of Tanzania

Arusha Region is one of Tanzania's 31 administrative regions and is located in the northeast of the country. The region's capital and largest city is the city of Arusha. The region is bordered by Kajiado County and Narok County in Kenya to the north, the Kilimanjaro Region to the east, the Manyara and Singida Regions to the south, and the Mara and Simiyu regions to the west. Arusha Region is home to Ngorongoro Conservation Area, a UNESCO World Heritage Site. The region is comparable in size to the combined land and water areas of the state of Maryland in the United States.

<span class="mw-page-title-main">Arusha Airport</span> Airport located in Arusha Region, Tanzania

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<span class="mw-page-title-main">Mwanza Airport</span> Airport in Mwanza Region, Tanzania

Mwanza International Airport is a major regional airport in northern Tanzania serving the city of Mwanza. It is located near the southern shores of Lake Victoria approximately 10 kilometres (6.2 mi) from the city. It serves as the main hub for Auric Air and a secondary hub for Precision Air.

<span class="mw-page-title-main">Julius Nyerere International Airport</span> International airport in Dar es Salaam, Tanzania

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Michael Ngaleku Shirima was a Tanzanian businessman, entrepreneur, and philanthropist. He was the founder and chairman of Precision Air, Tanzania's largest privately owned airline. He served in that role from 1993 until his death on 9 June 2023, at the age of 80.

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<span class="mw-page-title-main">Precision Air Flight 494</span> 2022 crash in Lake Victoria, Tanzania

Precision Air Flight 494 (PW494) was a scheduled domestic passenger flight within Tanzania, from Julius Nyerere International Airport to Bukoba Airport via Mwanza Airport. On 6 November 2022, the ATR 42–500 plane crashed in Lake Victoria while attempting to land at Bukoba during bad weather and low visibility. Nineteen people were killed, including both pilots who drowned before rescue workers could reach them.

References

  1. ↑ "JO 7340.2J – Contractions – Basic with Change 1, Change 2 & Change 3" (PDF). Federal Aviation Administration. Retrieved 6 August 2020.
  2. 1 2 3 4 5 6 7 8 "Prospectus" (PDF). 12 September 2011. Archived from the original (PDF) on 22 January 2013. Retrieved 28 September 2014.
  3. ↑ "Tanzania's PrecisionAir creates a mini-hub at Kilimanjaro". ch-aviation. 3 May 2019. Retrieved 24 March 2024.
  4. 1 2 3 "Precision Air Highlights of the Year" (PDF). Dar es Salaam Stock Exchange. 2022. Retrieved 24 March 2024.
  5. ↑ "Precision Air enhances its operations from Mwanza". 1 February 2013. Retrieved 1 February 2013.
  6. ↑ "PrecisionAir – Home". www.precisionairtz.com.
  7. ↑ "Precision Air History". Precision Air. Retrieved 11 June 2013.
  8. ↑ "Precision Air – Apg". Archived from the original on 19 July 2013. Retrieved 11 June 2013.
  9. ↑ "Directory: World Airlines". Flight International . 10 April 2007. p. 65.
  10. ↑ "Kenya Airways to buy 49% stake in Precision Air". AirlineCrew.net. Retrieved 4 September 2017.
  11. ↑ "Precision Air gets Sh510 million IFC boost". Business Daily. Retrieved 4 September 2017.
  12. 1 2 3 "Precision Air Services P.L.C. Annual Report and Financial Statements 2015/2016" (PDF). 18 August 2016. Retrieved 6 June 2017.
  13. 1 2 "Directors Report and Financial Statements 31 March 2013" (PDF). 31 August 2013. Archived from the original (PDF) on 3 January 2014. Retrieved 3 January 2014.
  14. ↑ "Super Brand Precision Air (PW) pleased with 2012/2013 performance", The Financial Junction, 17 April 2013
  15. ↑ "Directors' Report and Financial Statements 31 March 2013" (PDF). Precision Air. Archived from the original (PDF) on 3 January 2014. Retrieved 22 November 2013.
  16. ↑ "Directors' Report and Financial Statements 31 March 2014" (PDF). Precision Air. Retrieved 21 July 2014.
  17. ↑ "Despite bad financial performance Precision Air shares remain flat". Daily News. Retrieved 21 October 2015.
  18. 1 2 "Annual Report and Financial Statements for the year ended 31 March 2018" (PDF). Precision Air. Retrieved 21 November 2019.
  19. ↑ "AFRAA Annual Report 2020" (PDF). AFRAA . Retrieved 20 April 2021.
  20. ↑ "Tanzania's Precision Air flies in detrimental business losses". sautikubwa.org. 8 January 2021. Retrieved 22 December 2021.
  21. ↑ Thome, Wolfgang H. Thome (11 June 2013). "Precision Air's financial troubles go into public domain". eTurboNews. Retrieved 4 September 2017.
  22. ↑ "Airlineroute :: Routesonline". airlineroute.net. UBM (UK) Ltd. 2017. Archived from the original on 4 March 2016. Retrieved 4 September 2017.
  23. 1 2 3 "Precision Air's Sh51bn bailout appeal to State" . Retrieved 4 September 2017.
  24. ↑ "Precision Air looks to other lenders after poor IPO show". The East African. Retrieved 4 September 2017.
  25. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 "Destinations". Precision Air. Retrieved 24 March 2024.
  26. 1 2 3 "Precision Air discontinues FBM-LUN route". 8 July 2023. Retrieved 24 March 2024.
  27. ↑ "How regional airlines are scrambling for Entebbe airport". Monitor. 10 October 2016. Retrieved 25 March 2024. Precision Air operated a direct flight.. until March 2014.
  28. ↑ Jim Liu (27 December 2016). "Etihad / Precision Air plans codeshare service from Jan 2017". Routes Online . Retrieved 10 December 2017.
  29. ↑ "Partners & Alliances". Kenya Airways . Retrieved 31 January 2013.
  30. ↑ "Precision Air enters into code share with Mozambique Airlines". Precision Air. 6 March 2012. Retrieved 31 January 2013.
  31. ↑ "Partners and Alliances". RwandAir . Retrieved 31 January 2013.
  32. ↑ "Qatar Airways and Precision Air announce partnership" (Pressrelease). Qatar Airways. 1 November 2011. Retrieved 31 January 2013.
  33. 1 2 Travel Information, Expert Flyer, accessed 23 December 2014, subscription service
  34. 1 2 "Tanzania's Precision Air goes all prop after last 737 is withdrawn". ch-aviation.
  35. ↑ "Precision Air – Our fleet" . Retrieved 17 September 2020.
  36. ↑ "Accident record for Precision Air". Aviation Safety Network . Retrieved 8 April 2012.
  37. ↑ Ranter, Harro. "ASN Aircraft accident ATR 42–500 5H-PWF Bukoba Airport (BKZ)". aviation-safety.net.
  38. ↑ Accident descriptionfor 5H-PAB at the Aviation Safety Network . Retrieved on 8 April 2012.
  39. ↑ Accident descriptionfor 5H-PAC at the Aviation Safety Network . Retrieved on 8 April 2012.
  40. ↑ Accident descriptionfor 5H-PAR at the Aviation Safety Network . Retrieved on 8 April 2012.
  41. ↑ ""Update: Precision ATR 42–600 Blew All Main Tires on Landing at Arusha on Dec 13 Resumed to Service", The Aviation Herald, 17 December 2013". Archived from the original on 4 March 2016. Retrieved 21 September 2017.
  42. ↑ Accident descriptionfor 5H-PWA at the Aviation Safety Network . Retrieved on 27 September 2014.
  43. ↑ "Precision wafafanua ndege yao kuvamiwa na kunguru angani – Dar24".
  44. ↑ Ranter, Harro. "ASN Aircraft accident ATR 42–500 5H-PWF Bukoba Airport (BKZ)". aviation-safety.net.
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