Precision Air

Precision Air Services Plc (operating as Precision Air; DSE:PAL) is a Tanzanian airline based at Julius Nyerere International Airport in Dar es Salaam, with a minihub at Mwanza Airport.

In 2013, it had the largest market share of 48.33 per cent. The airline operates scheduled passenger services to Nairobi and airports in Tanzania.

History

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

In 2006, Precision Air became the first Tanzanian airline to pass the IATA Operational Safety Audit. Its registration will expire 22 September 2016.

In April 2011, the airline became a public company.

Corporate affairs

Shareholders

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.