Precision Air invites Tanzanians to acquire shares

[Geza Ulole]

Precision Air invites Tanzanians to acquire shares
By BILHAM KIMATI, 8th July 2010 @ 12:00, Total Comments: 0, Hits: 97

TANZANIANS, individuals and organizations have been invited to invest and acquire shares from the Precision Air Services, the management has announced.

The airline is communicating with the Capital and Security Market Authority (CSMA) to authorize it for Initial Public Offering (IPO), the goal envisaged for realization before the end of 2010.

Addressing a media conference at the company's headquarters in Dar es Salaam on Thursday, the Chairman of Precision Air, Mr. Michael Shirima was confident that the ownership of Precision Air by Tanzanians would be enhanced from the present 51 per cent to 65 per cent share and the rest to be owned by Kenya Airways.

''I am personally upbeat about this development irrespective of the considerable attenuation of my ownership. In this way the airline will be able to scale to greater heights to become one of the power houses of air transport in the region,'' chairman Shirima explained.

Expounding on the achievements recorded in sixteen years of the company's existence and seven years of partnership with Kenya Airways, the chairman said the company had grown tremendously with extensive network, strong brand and image and currently providing safe, comfortable, fast and reliable services.

However, flanked by company's CEO, Mr Alphonce Kioko and Mr Allen Sharra who is the company's quality and safety manager, chairman Shirima strongly refuted allegations that Precision Air belonged to Kenyans.

''We have received criticism from people that Precision Air is a Kenyan company. This is not true at all. Kenya Airways is a minority share holder in the airline at 49 per cent and I own 51 per cent as majority shareholder,'' Shirima explained.

He added; ''The company is based and controlled in Tanzania by a Board of Directors whose majority members are Tanzanians. We engage 580 employees of which less than 1per cent are Kenyans. Therefore unless there is doubt about my own citizenship, it cannot be that Precision Air is a Kenyan company.''

According to him, the sustainability of airlines today in different parts of the world is characterized by partnerships, mergers; takeovers, code sharing and alliances like Sky Team, Star and One World.

Clarifying on the recognition by the Tanzania Civil Aviation Authority (TCAA) that Precision Air is a National Airline, the chairman said by the International Civil Aviation Organization, (ICAO) definition, a national airline does not necessarily mean that it is owned by the government.

''A National Airline is one that majority ownership is by the citizens of that country, based and controlled in the same country. For example, in the UK there are British Airways, Virgin Atlantic, British Midlands and others. These are national airlines although not owned by the British government,'' he explained.
http://www.dailynews.co.tz/home/?n=11516&cat=home

 

[babu M]

Huyu mzee ni kati ya matajiri wachache ninao waheshimu,ameweza kufika hapo alipo bila ufisadi.Inabidi Serikali waanzishe tunzo ya kuwapa watu kama hawa.

 

[Bulesi]

Huyu mzee ni kati ya matajiri wachache ninao waheshimu,ameweza kufika hapo alipo bila ufisadi.Inabidi Serikali waanzishe tunzo ya kuwapa watu kama hawa.

Ingawa Michael Shirima ndio anajulikana kama ndio ,owner wa hizo 51% shares za Precision Air, lakini nyuma ya pazia wako wazito wengi wa serikali akiwemo waziri wa fedha wa Tanzania wa zamani anayetuhumiwa kwa ufisadi!

 

[Nyauba]

hivii calibre ya wafanyabiashara kama akina Mzee Shirima hapa Tanzania lazima kuwe na uchakachuaji au ndo mawazo yetu ya kusifia zaidi umasikini kuliko utajiri??

nampongeza mzee shirima kwa mafanikio aliyoyapata kibiashara..

 

[Geza Ulole]

Ingawa Michael Shirima ndio anajulikana kama ndio ,owner wa hizo 51% shares za Precision Air, lakini nyuma ya pazia wako wazito wengi wa serikali akiwemo waziri wa fedha wa Tanzania wa zamani anayetuhumiwa kwa ufisadi!

acha wivu wewe Mramba hana chake pale! kwa wanaomjua huyu mzee ni tycoon! usidhani Precisionair ndo biashara yake pekee! nenda Arusha na pita mashirika binafsi e.g. Tanzania oxygen, mining companies, mabenki na mashirika ya bima nchini kujua how filthy rich is he considering his stakes! pls don't underestimate people!

 

[Mkora]

Ingawa Michael Shirima ndio anajulikana kama ndio ,owner wa hizo 51% shares za Precision Air, lakini nyuma ya pazia wako wazito wengi wa serikali akiwemo waziri wa fedha wa Tanzania wa zamani anayetuhumiwa kwa ufisadi!

Mkuu huo unaitwa wivu wa kike, kaa na wewe nyuma ya hilo pazia uone
Yaani kila ktu mnafanya ni very easy tuu,

 

[Kottler Masoko]

Angalia mkuu usije bishana hata na redio.

Jamaa hana wivu, amejaribu kusema anachokifahamu kuhusu hizo shares.

Samahani kama tumekuudhi.:A S tongue:

 

[babu M]

Ingawa Michael Shirima ndio anajulikana kama ndio ,owner wa hizo 51% shares za Precision Air, lakini nyuma ya pazia wako wazito wengi wa serikali akiwemo waziri wa fedha wa Tanzania wa zamani anayetuhumiwa kwa ufisadi!

Viongozi binadamu pia na wana marafiki kama sisi na baadhi ya marafiki zao wanaweza kuwa ni wafanyabiasha wakubwa, kwahiyo tuwatendee haki kwa kutojeuza urafiki wao ni wakibiashara bila ushahidi.

Michael Shirima ni mfanyabiashara wa siku nyingi ambaye ana makuu,asiyekuwa na tamaa na hard working.Tatizo ni watu wengi wameanza kumjua miaka mitatu na sio miaka 16 iliyopita akiwa ananzisha Precious air.

 

[babu M]

acha wivu wewe Mramba hana chake pale! kwa wanaomjua huyu mzee ni tycoon! usidhani Precisionair ndo biashara yake pekee! nenda Arusha na pita mashirika binafsi e.g. Tanzania oxygen, mining companies, mabenki na mashirika ya bima nchini kujua how filthy rich is he considering his stakes! pls don't underestimate people!

Mramba tatizo lake ni kiburi ndicho kilichoponza, kutuingiza kwenye manunuzi makubwa yasiyokuwa na tija.Huyu ni sawa na Pinda,ninaweza kusema hawaoni tofauti ya kuendesha bajaji au X5 mradi iwatoe point A to B

 

[babu M]

Angalia mkuu usije bishana hata na redio.

Jamaa hana wivu, amejaribu kusema anachokifahamu kuhusu hizo shares.

Samahani kama tumekuudhi.:A S tongue:

Michael Shirima kashasema 51pc niza kwake..sasa Bulesi inabidi atueleze amefahamuje sio za kwake.

 

[Diana-DaboDiff]

Watanzania inabidi tufike mahala na kuacha wivu na majungu yasiokuwa na maana,ungekuwa uamuzi wangu ningemkabidhi na hizo Boeing za kukodi za Air Tanzania azisimamie.Serikali imetumia bilioni 300 kujaribu kuimarisha Air Tanzania 2008-2010 na hamna kinachoonekana na hizi ni pamoja na mabilioni yaliotangulia tukubali tu Air Tanzania haibebeki na kwa kuiunganisha na Precisoin kutapunguza share za Kenya Airways na angalau kuwa na shirika makini.

 

[Geza Ulole]

tatizo la wabongo wanajulikana, ni wivu usio na miguu wala kichwa kwa mafanikio ya wenzao! Tulipoanza mining industry in TZ wabongo wengi walilalamika tuko left out! the few individuals walipigana kufa na kupona kununua stakes at least kuwa na kivuli chetu na kusaidia jamii ya Watanzania kazi na hela kubaki hapa hata kama katika kuwekeza kwenye biashara nyingine! sasa nashindwa kuelewa hizi roho za kwanini zinatoka wapi? who doesn't know jinsi biashara za huyu mzee zinavyosaidia uchumi wa Arusha, dar es salaam na Moshi? Chuki hizi za Wabongo haziishii kwa huyu bwana tu bali hata Watanzania wengine walioweza Kama Bw. Mengi! mbali na huyu jamaa (Bw Mengi) kututoa tongotongo kwenye suala zima la media haswa TV, leo hii Wabongo haohao wanafurahia unfair competition toka media za serikali kwa kutumia kodi zetu! kisa? wivu! kwanini fulani kaweza? tunapokuwa na watu kama wakina Rostam, Karamagi, Mkono, Mramba na Chenge tunafurahia! while tunapokuwa na watu wanaofanya genuine businesses tunachukia na kuwacheka wanaposhindwa ushindani hasi katika biashara zao! na kuweka majungu na kashfa zisizo na kichwa! tuache hii hulka chafu jamani! Ninachoweza kumshauri Bw. Mengi afanye uamuzi wa busara kuuza shares zake kwa kampuni kama Naspers, kuhimili uharamia wa serikali ya CCM tuone kama TBC itaweza kushindana na Naspers+Mengi partnership! ila tukumbuke ndo tutazidi kuuza rasilimali zetu kwa foreigners kwa vile ya roho zetu za kwanini zinasisitiza hivyo!

 

[Prodigal Son]

Kwa wale mtakaokumbuka, Mzee Shirima alianzia mbali saana, ila alikuwa na malengo,alipotaka kuuza hisa zake alitangaza/ aliweka tangazo kwenye gazeti la The East African na alialika kampuni, mtu binafsi mwenye nia anunue hisa kwenye Precition air, tukumbuke kipindi hicho ndo serekali ya Ben ilikuwa kwenye mchakato wa kuiuza ATC, Kenya Airways walikuwa wanalitaka saana hilo shirika ila kulikwa na mizengwe wakahamua kugeuzia hasira zao kwa PW, ndipo waliponunua hisa, na haikuchukua muda PW ilipanuka siku hadi siku, mpaka southAfriacan Airways walipohamua kuitosa Air TZ, Huyu huyu Shirima Alijitokeza akawa anataka serekali imuzie Air TZ na aliandika rescue plan lakini serekali walimyima, na tunapozungumzia serekali ni baadhi ya watoa maamuzi wachache wenye wivu na roho mbaya,Naamini PW baada ya miaka michache litakuwa ni shirika kubwa na linaloingiza faida kwa ukanda huu wa africa mashariki

Changamoto nayompa Shirima je ameandaa vijana wakuridhi biashara zaka baada ya yeye kuishiwa nguvu za kuzisimamia?? Hili ni tatizo kubwa linalokumba biahsara nyingi za wazalendo hapa Tanzania, Tunaweza chukulia mfano wa Kibo Breweries na Founder wake Late Kisinani alijitahidi saana kuanzisha kile kiwanda lakini kutokana na kutoweka misngi mizuri ya kuendeleza biashara zake baada ya kutangulia mbele ya haki na biashara zake karibu zote kama sio ziliuzwa zilikufa

changamo

 

[Bantugbro]

Ndio maana kuna hiyo kitu inaitwa IPO, mwanzilishi si lazima uwe ndo mshika usukani. Unaachia wataalam hata kama sio ndugu zako waongoze kampuni wewe unabaki na hisa zako kadhaa na executive benefits flani flani. Hata pale utakapoishiwa nguvu kampuni sio rahisi kufa. Wafanya biashara wetu lazima wabadilike sasa. Hongera Mzee Shirima.

 

[Ramthods]

Wakuu, naona point mnazotoa ni bomba, ila zote zimelenga kumchambua mzee shirima na mafanikio yake hadi sasa.

Turudi kwenye point ya thread. Hizi hisa zimekaaje kutoka na hali ya kibiashara ya sasa?

Kuna mtu mwenye data, what has been Pression Air's financial performance in the last 2 - 3 years?

I need to know if buying Pression Airway's share is a prudent decision.

 

[Prodigal Son]

In the first sign of a flurry of cross-border deals to come, PrecisionAir has announced plans to cross-list on the Dar es Salaam and Nairobi stock exchanges.


The deal, which will see Kenya Airways sell 15 per cent of the 49 per cent stake it holds in PrecisionAir to investors in Tanzania by the end of the year, also ties in with the Tanzanian associate company's ambition to base its ambitious regional expansion around its Dar es Salaam hub.

Kenya Airways is already cross-listed in Nairobi and Dar.


With the growing commercial success of both Kenya Airways and PrecisionAir as the East African Community enters into a Common Market, the listing brings onto centrestage the debate over whether the region should move to a one-sky policy.

Such a move would significantly increase the frequency of flights offered by regional carriers and reduce inter-city prices.


It could also attract billions of dollars in cross-border investments in regional aviation businesses as the volume of trade and business increases.

PrecisionAir's IPO - coming as it does in the context of Tanzania's elusive political and commercial quest to revitalise its troubled national carrier and make Dar es Salaam an aviation hub to compare with Nairobi or Johannesburg - caps what is arguably the most successful business partnership between a Tanzanian and a Kenyan company in the past decade.


Despite the revival of the East African Community a decade ago, which sparked a dramatic increase in regional investments, business relations between Kenyan and Tanzanian firms have often mirrored the prickly political relationship between the two countries.

Indeed, Kenya Airways' investment in PrecisionAir, which in 2003 was a small but ambitious domestic carrier, came only after the Kenyan national carrier's controversial bid for Air Tanzania had failed.

Kenya Airways took PrecisionAir under its wing, helping build its management depth and modernise its fleet. Local management helped navigate the sometimes choppy political waters of entrenched resource and commercial nationalism.


PrecisionAir is a Tanzanian-founded airline operating scheduled domestic and international flights; as Tanzania's largest private-owned airline, it today serves as a proxy national carrier without the flag.

The national carrier, Air Tanzania, has continued to make losses under a succession of South African and Chinese foreign investors, with Zimbabwe Air recently taking up the baton.

The airline group is now gearing to raise capital to support its aggressive expansion plans and further enhance its presence in Africa.


In a strategy unveiled last week, Precision Air will connect all the major cities in the region and expand its route network farther afield into South Africa, Angola, DR Congo, Zambia and Zimbabwe.

Michael Shirima, chairman of PrecisionAir, told The EastAfrican in Dar es Salaam last week that the IPO will increase Tanzanians' ownership of the carrier from the present 51 per cent to 66 per cent, leaving 34 per cent in the hands of Kenya Airways.

Mr Shirima said the shareholders have made an application to the Tanzania Capital Market and Securities Authority to authorise the airline to list on the Dar es Salaam Stock Exchange.

"We want to extend our network to the SADC and EAC countries, and explore the strong potential of forming a hub in Dar es Salaam," he said.

Gabriel Kitua, chief executive officer of the Dar es Salaam Stock Exchange, told The EastAfrican last week that PrecisionAir has already finalised discussion with the DSE for listing on the bourse.

Source: The east african