Precision Air

Precision Air Services Limited, operating as Precision Air, is the largest airline in Tanzania, based in Dar Es Salaam.^[1]

Overview

The airline operates scheduled air services for tourists and business traffic between Dar Es Salaam and Fourteen (14) other airports in Tanzania. It also maintains scheduled service to Kenya and Uganda, within the East African region and Internationally to Comoros and South Africa. Its main base is Julius Nyerere International Airport, Dar es Salaam with hubs at Kilimanjaro International Airport and Mwanza Airport.^[2]

History

Precision Air was established in 1991 and started operations in 1994. It began as a crop sprayer, but expanded to serve the growing tourist market. Scheduled services started in November 1999. In 2006 Precision became the first Tanzanian airline to pass IATA Operational Safety Audit, and as of May 2011, is the only airline in the country to pass that audit. Precision Air moved 465,349 passengers in the 2007/08 financial year, which increased to 538,305 in 2008/09.

Ownership

Prior to 2003, Precision Air was privately owned. That year, Kenya Airways acquired a 49% stake in the airline, after paying US$2 million, weeks after its rival, South African Airways acquired a 49% stake in Air Tanzania. The remaining 51% was retained by Michael Ngaleku Shirima, the founder of the airline.^[2][3]

In October 2011, Precision Air floated 30.35% shareholding in the airline stock, in an IPO on the Dar es Salaam Stock Exchange (DSE). The anticipated shareholding structure after the offer for subscription will be 58,841,750 shares (30.35 per cent) for the investing public on the DSE, 66,157,350 shares (34.13 per cent) for Kenya Airways Limited and 68,857,650 shares (about 35.52 per cent) to be owned by Michael Shirima, the founder, Chairman of the company and largest shareholder. The estimated US$16.7 million (Tanania shillings-TZS:27.9 billion), will be spent mainly on new aircraft acquision and a small amount on operational expenses.^[4]

In November 2011, International press reports indicated that the IPO was only 42.3% subscribed.^[5] Since Kenya Airways did not float any of its shares in the IPO, the shareholding in the airline, when it starts to trade on the DSE on 15 December 2011, will be as depicted in the table below:

Precision Air Stock Ownership

Rank Name of Owner Percentage Ownership 1 Investing Public on Dar es Salaam Stock Exchange 12.91 2 Kenya Airways 34.13 3 Michael Ngaleku Shirima 35.52 4 Potential New Investor 17.44 Total 100.00 Destinations A Precision Air ATR 42 in Kenya. As of March 2012[update], Precision Air maintains service to the following destinations:[6] Hub City Country IATA ICAO Airport Refs Bukoba  Tanzania BKZ HTBU Bukoba Airport [6] Dar es Salaam  Tanzania DAR HTDA Julius Nyerere International Airport [6] Entebbe  Uganda EBB HUEN Entebbe International Airport [6] Johannesburg  South Africa JNB FAJS OR Tambo International Airport [6] Kigoma  Tanzania TKQ HTKA Kigoma Airport [6] Kilimanjaro  Tanzania JRO HTKJ Kilimanjaro International Airport [6] Mombasa  Kenya MBA HKMO Moi International Airport [6] Moroni  Comoros HAH FMCH Prince Said Ibrahim International Airport [6] Mtwara  Tanzania MYW HTMT Mtwara Airport [6] Musoma  Tanzania MUZ HTMU Musoma Airport [6] Mwanza  Tanzania MWZ HTMW Mwanza Airport [6] Nairobi  Kenya NBO HKJK Jomo Kenyatta International Airport [6] Shinyanga  Tanzania SHY HTSY Shinyanga Airport [6] Zanzibar  Tanzania ZNZ HTZA Zanzibar International Airport [6] Harare  Zimbabwe HRE FVHA Harare International Airport [7] Fleet As of August 2011[update], the Precision Air fleet includes the following aircraft:[8] Precision Air Fleet Aircraft In Service Orders Options Passengers Notes C Y Total ATR 42-320 2 — — 0 48 48 ATR 42-500 2 — — 0 48 48 ATR 42-600 0 4[9] — ? ? ? ATR 72-500 5 — — 0 70 66 70 66 ATR 72-600 0 1 — ? ? ? Boeing 737-300 2 — 1 16 100 116 Total 11 5 1 Accidents and incidents According to Aviation Safety Network, as of April 2012[update] Precision Air records three accidents/incidents. [10] 26 July 1999: A Let L-410UVP-E9, tail number 5H-PAB, made a belly landing in Arusha Airport on a training flight while doing touch and go. The 2 crew and 3 passengers were not injured.[11] 16 November 2004: A Let L-410UVP-E20, tail number 5H-PAC, crash landed while on a training flight in Kilimanjaro Airport. The two pilots, who had not put on their shoulder straps, sustained facial injuries.[12] 8 July 2007: An ATR 72-212, tail number 5H-PAR, The aircraft 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] References ^ "Contacts." Precision Air. Retrieved on 25 May 2011. "Head office : Along Nyerere/Pugu Road P.O Box 70770 Dar-es-Salaam, Tanzania East Africa." ^ a b "Directory: World Airlines". Flight International: p. 65. 2007-04-10.  ^ Kenya Airways To Buy 49% of Precision Air ^ Precision Air Goes Public In IPO on DSE ^ Results of Precision Air IPO ^ a b c d e f g h i j k l m n o "Precision Air". Precision Air. http://www.precisionairtz.com/. Retrieved 11 November 2011.  ^ Precision Air Begins Service To Harare ^ The Fleet of Precision Air ^ "Tanzania’s Precision Air Services signs contract for 5 ATR -600s". http://www.atraircraft.com/newsroom/press-releases-details-1169-en.html.  ^ "Accident record for Precision Air". Aviation Safety Network. http://aviation-safety.net/database/operator/airline.php?var=7328. 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. 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