Je, ni busara serikali kuipatia pesa Precision Air?

[Stoudemire]

Hehehe ukistaajabu wa Musa utayaona ya shetani!!

Yaani pesa zetu apewe Shirima? Hell nooooo!!!!

Najua is a public listed company lakini wacha ife tu

 

[VUVUZELA]

Shamba la bibi yake bibi

 

[Tutafika]

This is insanity so to speak. Air Tanzania, 100% owned by the government is on its deathbed, why not try to awaken it instead of this other privately owned airline co.? I cry for my country Tanzania.

Don't cry!, It can be not bailout in such but instead, an interest free loan! It can be for good to the economy if, and only if, ...it is not the same story as the then: Commodity import support, and the Global financial crisis package which was given to commercial banks and Insurance companies. Hopping will be for the best interest of the Tz economy.

 

[chama]

The only appealing strategy is to bail out the carrier through purchase of the KQ shares. I understand that KQ owns 49% of the shares. So, it would a more justifiable decision for the Government to buy foreign-owned stake and make it pure Tanzanian.

Then, Precision Air and the national carrier ATCL can have complementarity specialization such that Precision have domestic with EAC region concentration while redeemed ATCL have regional (SADC) and international concentration.

Let the Government own both carriers na mipango ya kibiashara na uchumi iwe wazi. Otherwise, kufa kwa Precision ni kuiua seka ya Utalii kwani Fast Jet haina extensive commercial presence bado nchini.

The government of Tanzania has no business with precision air; bailing them out is purely misuse of public funds; one of the reason why Air Tanzania can't stands on its feet is because some of dishonest government officials have their hands on this company; if the issue is to make it purely Tanzanian owned company let them raise funds through public by selling their shares; there is no a single reason to justify this rubbish! we are living in the world of competition so if they can't let them die; utalii will prevail; as long Serengeti is there we will find a means to get there!

 

[Semilong]

I happened to be going through a front page news item on the citizen today.

Habari kamili kama ilivyo kwenye citizen
Dar es Salaam. The government is considering whether to bail out cash-strapped Precision Air (PW), The Citizen has learnt.

PW, which was once Tanzania’s fastest growing airline, is struggling under a huge debt burden and has sought a $32 million (about Sh51.2 billion) bailout package from various sources, including the government, to enable it to meet urgent financial obligations, including servicing bank loans and paying aircraft suppliers.

The government, through the Transport ministry, formed a committee last month to look into the airline's request for financial assistance, according to reliable sources.

The committee met from July 24 to August 4 in Bagamoyo to assess the ailing carrier's debts and operations and handed over its report to Transport minister Harrison Mwakyembe on August 7.

We met in Bagamoyo with a view to establishing how PW came to find itself with such huge debts.. we also sought to know whether PW could be helped and if it could repay any loan advanced to it, said a source who did not want to be named for protocol reasons.

We came to the conclusion that the company needs to be bailed out because of its contribution to the economy.

Members of the committee were drawn from the Tanzania Investment Centre, Bank of Tanzania, Consolidated Holdings Corporation, Tanzania Civil Aviation Authority, Attorney General’s Chambers and Transport ministry.

The committee interviewed various stakeholders, including Tanzania Revenue Authority and Tanzania Airport Authority officials as it weighed the pros and cons of bailing PW out.

Transport deputy minister Charles Tizeba declined to comment on the matter.

I am not ready to reveal information about a private company. Talk to the owner if you want to know what was discussed,” he said.

In another development, the PW management has undertaken a forensic audit as part of efforts to find a solution to problems bedevilling the company.

PW board chairman Michael Shirima told The Citizen that only after audit findings are ready would the management consider legal measures against those suspected of running the company down.
He linked the carriers former Kenyan CEO Alfonse Kioko, who left the company early this year, to problems the airline was facing.

He (Kioko) deserves credit for steering the airline during a long transition period, but he had some weaknesses which are to blame for the problems we are now encountering, he said. Mr Shirima cited as an example the ambitious expansion plan that saw the airline lease three Boeing 737 jets to fly to new destinations in Africa, adding that the decision did not take into account the risks involved.

He should have come up with a realistic expansion plan so as to mitigate the risks.

Reached for comment, Mr Kioko said that he was ready for any investigation and was looking forward to the forensic audit report.

Let me clarify that the leasing of aircraft and opening of new routes is a major decision that cannot be made by a single individual;in fact, it cannot be done without the board;s approval, he said, adding that he would eventually be vindicated.

According to Mr Kioko, the process of leasing a plane requires the company to draw a strategic business plan, which the management deliberates and fine-tunes before it is presented to the board for comments or approval.

When your plan is approved, this forms a roadmap for the next five to ten years. It may change depending on market dynamics. We did all that during my days at PW, he said.

Even with this approval, when the time comes for lease, you still have to go back to the board with a clear business plan again showing the routes to be operated and revenues and operational costs as well as profitability forecasts.

He said that in any business, and especially in air transport, market dynamics may change fast and that it makes good business sense to adjust business plan and operations accordingly.

Here I must confess that of all the good things the good Lord bestowed upon me, He unfortunately denied me the ability to predict the future with a lot of certainty, he said

Mr Kioko became Precision Air CEO as one of the pre-conditions set by Kenya Airways when it bought shares in the airline a decade ago. Another post taken over by a Kenyan was Chief Finance Officer.

 

[mwagavumbi 11]

si ndiyo inayobeba nembo ya utaifa wenu ikiwa nje ya nchi, na ndiyo airline kubwa ya nchi kwa sasa lazima upate Ruzuku. Mliamua kwa moyo mmoja kuimaliza the Wings of Kilimanjaro, sasa haya ndiyo matunda yake!

huo ni upumbavu kuwapa wachaga ruzuku. kwani nini kinashindikana kufufua ATCL au ndo ubunifu mliotumia ili kuuwa shilika la umma? kwani mnaitaji kiongozi ajaye aje ataifishe mali hizo? mbona mnakuwa si wazalendo na nchi hii? Dr kwa heshima na taadhima nakuomba utolee ufafanuzi wa kina kuhusu hili?

 

[Vmark.]

huo ni upumbavu kuwapa wachaga ruzuku. kwani nini kinashindikana kufufua ATCL au ndo ubunifu mliotumia ili kuuwa shilika la umma? kwani mnaitaji kiongozi ajaye aje ataifishe mali hizo? mbona mnakuwa si wazalendo na nchi hii? Dr kwa heshima na taadhima nakuomba utolee ufafanuzi wa kina kuhusu hili?

Mkuu kwani kulikuwa na ulazima wowote wa kuwa include wachagga kwenye comment yako???

 

[Prisoner 46664]

Who says ATCL was not given a bail-out?
May be you can give it another name, but over a Year, over 200 ATCL staff were given salaries and other benefits without having a single operating airline.

Kifupi ATCL ilikua kama ZIGO LA MWIZI

Mkuu,

Nina hakika mishahara ya wafanyakazi wa ATC hata kwa miaka 20 inaweza isifike TZS 51 billion. I am talking of a bailout to the same tune as this one being considered for Precision Air. As a matter of fact, i disagree with your conclusion of ATC being "mzigo wa mwizi" as you say.

Every company is as good as its top management. With right management and funding, ATC can easily become the best airline in Africa within just 5 years. You don't believe me, look at Rwandair and Ethiopian Airlines.

 

[Prisoner 46664]

"Ikiwezekana watanzania wale NYASI lakini pesa lazima itolewe kwa PA" hivi Mramba si ndo mmiliki wa asilimia kubwa ya hisa za PA?? bado anataka tuendelee kula NYASI kwa ajili ya Ndege!??? anazipenda sana ndege...!??? As for my government, I keep my fingers crossed, They always go for the WORST..!

Mkuu,

Siku hizi kila kona za miji yetu mikuu kumejaa "networking clubs". Apparently these are the actual deals negotiated in the clubs. Inabakia kuwafahamisha wananchi tu.

 

[Bigaraone]

700 employees? ATC had more than 3000 employees back then and nobody gave a dam.n

To you Prisoner and Vuvuzela, why have you picked only 700 employees. My presentation went further that Precision Air is trading with many local companies from which it outsources goods and services and the latter have employed Tanzanians and continues to employ as and when need crops up. And after all 700 employees however few you may think, they are Tanzanians. Being few does not make them less Tanzanians or human. They have got dependents also. Can we risk to have such un employed army? Moreover, there's nowhere I sighted the 3000 employees of ATC or suggested that ATC should not bailed out? Has ATC appealed for financial help and turned out?

 

[August]

Hiyo ndiyo option aliyobakia nayo. Hana sababu ya kung'ang'ania ndege ambazo anaziendesha kw hasara. Akiziacha zikachukuliwa na benki atabakia na ndege zake nne ataendelea na biashara vizuri.

hizo ndege zake nne wawezakukuta nazo ni security kwa hayo madeni, lakini solution ina baki hiyo ku-liquidate the company ndio ze cheapest option available na isiyo na migogoro mingi na manunguniko labda moto ni kwa wahusika yaani directors, na hao directors kuwa banned kuwa directors for the next 5 to 10 years ukisha kosea hizo ndio consequencies za kuwa director, hata wale wa nico na tol serikali ianze kuwachukulia hatua.

 

[Time Bandit]

Who else cares if the government is careless!!!

You don't?....now that is careless!

 

[Shark]

Mkuu,

Nina hakika mishahara ya wafanyakazi wa ATC hata kwa miaka 20 inaweza isifike TZS 51 billion. I am talking of a bailout to the same tune as this one being considered for Precision Air. As a matter of fact, i disagree with your conclusion of ATC being "mzigo wa mwizi" as you say.

Every company is as good as its top management. With right management and funding, ATC can easily become the best airline in Africa within just 5 years. You don't believe me, look at Rwandair and Ethiopian Airlines.

Mkuu,

Tshs 500,000/= x 200staff x 12months = Tshs 1.2Bil
Hii ni assumptions tu ya Mishahara ya Tshs 500,000/= but kuna ambao wanachukua mpaka mara tatu au nne ya hii.

Ukija na House rent plus loan repayments za ndege ambazo zilikua haziruki.

Then ukarabati wa mandege mabovu.

Weka na ufisadi wa Yuniform za mchina za tshs 50Mil.

Bado chai ya ofisi na Makorokoro mengine.

Anyway, inaweza isiwe sana hiyo 51Bil but jua tu kua hata PW ina faida kwa nchi kwenye upande wa kodi, rent, ajira n.k.

 

[Msavila]

I think want is happening to PA now was on the plate since it joined hands with KA. The policy of Kenyan business is not to allow a second economic center in the region and this is realised by taking part in any local owned business doing well. The investment plan offered are nothing but trojan horses. To remind the readers remember where is Moshi Breweries? Local enterpreneurs should believe in themselves and their local manpower if this is not to happen again. Bailing out a company that has foreign holding is unwise. Haven't we learned from the ATC-SAA ownership or the Belgian government loss when they pumped in money into SWISSAIR then a joint owner of SABENA only to find, soon after paying in, the company filing for bankruptcy??? NO NO NO. Let them raise money from the stock market!!!!!

 

[Rufiji]

To you Prisoner and Vuvuzela, why have you picked only 700 employees. My presentation went further that Precision Air is trading with many local companies from which it outsources goods and services and the latter have employed Tanzanians and continues to employ as and when need crops up. And after all 700 employees however few you may think, they are Tanzanians. Being few does not make them less Tanzanians or human. They have got dependents also. Can we risk to have such un employed army? Moreover, there's nowhere I sighted the 3000 employees of ATC or suggested that ATC should not bailed out? Has ATC appealed for financial help and turned out?

You may try to sugar coat, but the truth will always prevail. It's not the government job to bail out private companies. In a freemarket economy, the government is not supposed to cherry pick winner and losers; instead, the government's duty ought to be creation of favorable environment for business growth. On the other hand, where is the money going to come from? And what are the taxpayers going to get in return?

 

[Mkulima Nchini]

Precision Air is the airline that can not survive in the stiff competition. Just one company existence(fastjet) has removed them from the marke, with their arrogance. Government should rescue ATCL and not PW the private company. Mwambieni Shirima aende Kenya kwa Uhuru Kenyatta akamkomboe.

 

[Msavila]

or the Belgian government loss when they pumped in money into SWISSAIR then a joint owner of SABENA only to find, soon after paying in, the company filing for bankruptcy???

Before the dust could settle the Swiss created Swiss International Air Lines AG and as for Belgians SABENA is gone forever. Such A Bad Experince Never Again= SABENA

 

[Tata]

Ni uendawazimu kutumia pesa za walipa kodi kuifufua kampuni ya ndege ya watu binafsi wakati kuna kampuni ya umma ya ndege inachechemeambila msaada wowote. Sababu zilizokuwa zikitolewa na wakereketwa wa ubinafsishaji ni kuwa ATC imeshindwa kwa kuwa serikali haiwezi kufanya biashara. Sasa watueleze kwa nini Precision ambayo ni kampuni binafsi na hivyo inajua biashara inashindwa kupata pesa mpaka wanahitaji msaada wa serikali ya watu wasiojua biashara? Kwa nini wasiombe mtaji toka kwa wabia wao wa Kenya Airways au wasiuze shares zaidi DSA kupata mtaji?

 

[Prisoner 46664]

Don't cry!, It can be not bailout in such but instead, an interest free loan! It can be for good to the economy if, and only if, ...it is not the same story as the then: Commodity import support, and the Global financial crisis package which was given to commercial banks and Insurance companies. Hopping will be for the best interest of the Tz economy.

How does one bail-out a company that has no clear market strategy?..That is clearly equivalent to bailing out a dying company. This simply means that this loan will never be refunded.

Precision can not survive now because it is losing its customer base at an astounding rate of speed. It shall not survive.

 

[Prisoner 46664]

The government of Tanzania has no business with precision air; bailing them out is purely misuse of public funds; one of the reason why Air Tanzania can't stands on its feet is because some of dishonest government officials have their hands on this company; if the issue is to make it purely Tanzanian owned company let them raise funds through public by selling their shares; there is no a single reason to justify this rubbish! we are living in the world of competition so if they can't let them die; utalii will prevail; as long Serengeti is there we will find a means to get there!

Agreed,

Actually Precision's impact on our success in tourism is overrated.

The tourism sector is occupied with a number of other air fliers which have over time served it quiet well. You talk of Coastal Aviation, Regional Air Services etc. These, together with fast - jet, will leave the tourism sector indifferent when precision air dies a natural death..if it must.