Precision Air announced its half-year results are positive and in line with the company’s five-year strategic plan.
The news came during the company’s Annual General Meeting last week, and was a welcomed announcement in light of Precision Air’s financial woes in the financial year ending in March, 2013.
According to their press release, Precision Air’s five-year strategic plan includes increasing profit via passenger revenue; yield improvement and fuel surcharge improvement; tighter control to improve collection and cargo; increase rates, and ancillary revenues; third party aircraft maintenance; and various advertisements.
Precision Air was established in 1993 as a private charter company, and it began running regularly scheduled flights in 1999 with Arusha as its base city– they currently have a fleet of 12, reaching 20 destinations.
Despite last fiscal year’s financial troubles, Precision Air won the Tanzania Society of Tanzania Agents award for Best Domestic Scheduled Airline in September and its shares in the DSE have remained stable since its listing in 2011.