#PW| Precision Air - Official Thread

[èđđeůx]

Now that Precision Air is going public, I think it's time we have an official thread for news, photos and discussion about the airline!

Precision Air Ready for Share Sale
allAfrica

The company will offer 58,841,750 shares (about 30 per cent of the stakes) for sale at 475/- per share which is discounted by 11 per cent since the calculated value was 533/-," he said.

He said that the move aims to give majority citizens a chance to own a stake in the airline. The minimum number of shares per application will be 200 shares. Mr Shirima said 93.5 per cent of the 27.9bn/- expected to be raised will be used for capital expenditure and the 6.5 per cent balance for working capital enhancement.

With the money, the airline company expects to purchase five aircraft in a bid to extend its outreach to other African destinations including Democratic Republic of Congo (DRC) and Angola.

"We are very cautious in every step of investment to ensure the right target is reached. We will have both fleet and route expansion initially domestically and in the East and Central Africa before expanding beyond the continent," he added.

According to Mr Shirima, share application forms will be available at all the registered stock brokers in the country and in all Stanbic bank and CRDB bank branches across the country.

Kenya Airways acquired a minority 49 per cent shareholding in 2003 and from there, the transformation of the company's image into professionally run modern regional airline carrier began.

The shareholding structure after the offer for subscription will be 68,857,650 shares (about 35.52 per cent) to be owned by Mr Michael Shirima, the majority shareholder, 66,157,350 shares (34.13 per cent) for Kenya Airways Limited and 58,841,750 shares (30.35 per cent) for others.

Precision Air valued above KQDaily Nation

Precision Air’s IPO price of 475 Tanzania shillings per share (Sh28) gives the stock a higher valuation than all other counters listed at the Nairobi Stock Exchange, except that of Kenya Orchads.

The initial public offering (IPO) cost puts the airline’s price to earnings (P/E) ratio at 50, above that of all NSE stocks except Kenya Orchads’, whose P/E stands at 75. A high P/E ratio denotes a stock that has a high future growth potential, or one that is over-priced.

[B]According to an analysis by Tanzania Securities Ltd, the price was based on the earnings potential and the historical performance of the firm.[/B] The Tanzanian airline, in which Kenya Airways own 49 per cent, opens its IPO on 7and closes on 28 October.

Foreign investors, including Kenyans, will get an allocation of 49 per cent of shares on sale. Precision Air will be selling 58,841,750 shares targeting TSh27.9 billion. If all the shares are taken up in the IPO, the airline’s total issued shares rise to about TSh194 million.

The report noted that Tanzania’s tourism industry is booming while its mining industry is flourishing.

“Industry forecasts show Tanzania’s mineral industry particularly gold mining is likely to grow in the near future,” said the brokerage report.

The announcement of the offer results will be on November 11, while the crediting of the shares into the individual CDS accounts will be on November 25. Trading will start on December 8 this year.

The money will be used to modernise the airline’s ageing fleet as well as buying additional planes. It targets to have 17 planes within the next two years and 20 planes by 2015.

[èđđeůx]

Some news from earlier this year...

Precision Air, Tanzania’s leading airline Unveils New Uniforms
Precision Press

Dar es Salaam February 24, 2011. Precision Air, Tanzania’s leading airline last night unveiled its new and vibrant uniform at a lavish cocktail event held at the prestigious Movenpick Hotel in Dar es Salaam.

Speaking during the event, Precision Air Managing Director and CEO- Mr. Alfonse Kioko said; “

“The new uniform is part of our continuing efforts to improve and modernize the airline. Just like we have new aircraft, it’s only fitting that we should also have a new uniform and attitude to go along.”

The new uniform has been designed and supplied by Boutique New City of Bangkok at a cost of USD 170,000.

There are three categories of the new uniform. The first category is for frontline staff, the second is for operations staff, engineers and pilots and the third is work wear. They will be worn by cabin crew, pilots, engineers, technicians, security and customer service staff among others.

[èđđeůx]

The uniforms are too bright! But I do like the women's with skirt, the rest are bleh.

[èđđeůx]

Precision Air introduces online payment option
Precision Press

Precision Air Tanzania’s leading airline has introduced a new and convenient method of booking and paying online for its customers who do not wish to leave the comfort of their home or office.

Speaking during a press conference at the Precision Air Headquarters in Dar es Salaam on Thursday March 5th, 2011, the airline’s Director of Commercial Mr. Phil Mwakitawa said; “This is a new product that allows Precision Air customers to be able to do their ticket payments online.”

“This product is mainly focused on email bookings. Today a customer who wishes to book and ticket via email does not need to pay a visit to Precision Air sales outlets or travel agents.” He added.

This means a customer can book via the Precision Air website and get a response of the booking itinerary with the cost of the itinerary via email. Once the customer confirms ready to pay, a payment link will be sent to the customer allowing him/her to process the payment online using VISA Credit or debit card. This way the customer receives his ticket while seated at his offices or home via email.

[kiligoland]

Precision Air vows to extend wings wider


By CHRISTOPHER MAJALIWA, 13th October 2011 @ 13:00, Total Comments: 0, Hits: 100

PRECISION Air will be flying to 15 international and regional destinations, up from five at present, within the next two years, the airline's Financial Director, Mr Charles Ogola, said in Dar es Salaam on Thursday.

The airline currently flies to the Comoros, Entebbe, Johannesburg, Mombasa and Nairobi. It also serves ten local destinations. Local destinations are Arusha, Bukoba, Dar es Salaam, Kigoma, Kilimanjaro International Airport, Mtwara, Mwanza, Shinyanga, Tabora and Zanzibar,

Addressing a stakeholders' meeting on the progress of the airline's progress to go public, he presented several achievements recorded since it started operations in 1993.

''We are a major flight Business Company in Tanzania, among other things we had obtained a self-handling license from the Tanzania Civil Aviation Authority (TCCA) in October, 2009.

"In offering our shares to the public, our goal is to make the company grow faster and diversify its ownership," he said.

He said despite stiff competition in the aviation industry, the airline has increased the number of customers from 248,000 annually in 2004, to 667,000 so far this year. This represents an increase of 15 per cent annually.

The company's Managing Director and Chief Executive Mr Alfonce Kioko said that Precision was focused on increasing efficiency resulting in cost reduction.

''Despite being the third airline in Africa to embrace e-ticketing technology in 2006 we are staying awake to make our customers enjoy the services," Mr Kioko said.

The Board Chairman and Founder of Precision Air Mr Michael Shirima underscored the need of Tanzanians to buy shares and invest in the company.

The company has offered 58,841,750 shares for sale to the public at 475/- per share.

The minimum number of shares per application will be 200 shares. The exercise started on October 7, and was scheduled to close on October 28 with 59 per cent set to be sold to Tanzania nationals.

[bantugbro]

Originally Posted by kiligoland

Precision Air vows to extend wings wider


By CHRISTOPHER MAJALIWA, 13th October 2011 @ 13:00, Total Comments: 0, Hits: 100

PRECISION Air will be flying to 15 international and regional destinations, up from five at present, within the next two years, the airline's Financial Director, Mr Charles Ogola, said in Dar es Salaam on Thursday.

The airline currently flies to the Comoros, Entebbe, Johannesburg, Mombasa and Nairobi. It also serves ten local destinations. Local destinations are Arusha, Bukoba, Dar es Salaam, Kigoma, Kilimanjaro International Airport, Mtwara, Mwanza, Shinyanga, Tabora and Zanzibar,

Addressing a stakeholders' meeting on the progress of the airline's progress to go public, he presented several achievements recorded since it started operations in 1993.

''We are a major flight Business Company in Tanzania, among other things we had obtained a self-handling license from the Tanzania Civil Aviation Authority (TCCA) in October, 2009.

"In offering our shares to the public, our goal is to make the company grow faster and diversify its ownership," he said.

He said despite stiff competition in the aviation industry, the airline has increased the number of customers from 248,000 annually in 2004, to 667,000 so far this year. This represents an increase of 15 per cent annually.

The company's Managing Director and Chief Executive Mr Alfonce Kioko said that Precision was focused on increasing efficiency resulting in cost reduction.

''Despite being the third airline in Africa to embrace e-ticketing technology in 2006 we are staying awake to make our customers enjoy the services," Mr Kioko said.

The Board Chairman and Founder of Precision Air Mr Michael Shirima underscored the need of Tanzanians to buy shares and invest in the company.

The company has offered 58,841,750 shares for sale to the public at 475/- per share.

The minimum number of shares per application will be 200 shares. The exercise started on October 7, and was scheduled to close on October 28 with 59 per cent set to be sold to Tanzania nationals.

Mzee umenunua share ngapi? this look like a very promising investment

[kiligoland]

Originally Posted by bantugbro

Mzee umenunua share ngapi? this look like a very promising investment

kabisa mkuu, ntaongea na mkuu tanzan tufanye investment ya kufa mtu,

[tanzan]

Originally Posted by kiligoland

kabisa mkuu, ntaongea na mkuu tanzan tufanye investment ya kufa mtu,

unabidi uwe na buda limekaa tuu...

[tanzan]

Originally Posted by èđđeůx

Now that Precision Air is going public, I think it's time we have an official thread for news, photos and discussion about the airline!

Precision Air Ready for Share Sale
allAfrica



Precision Air valued above KQDaily Nation

It is mentioned that Precision expect to purchase 5 aircrafts...what type of aircraft they planning to purchase for their expansion?

[kiligoland]

[Kisumu Ndogo]

Sielewi ni kwa madhumuni ipi(hapo mbeleni) taifa la Tanzania kuwepo mstari wa mbele kuwazuia wakenya kununua hisa katika makampuni kama haya ya Bongo japo 'sie' tumekuwa tukiwakubalia(mf. katika mauzo ya Safaricom, KCB..). Kwa dhana hii ninaonelea kuwa kwa kuitikia mwito wa kuuza hisa zake kutoka Precision Air, Kenya Airways lazima iwe imekuwa arm-twisted na serikali ya kitaifa ama wenye hisa 'wazito' TZA - Haya ni maoni yangu jinsi ninavyoitathmini swala hili.

[bantugbro]

Originally Posted by Kisumu Ndogo

Sielewi ni kwa madhumuni ipi(hapo mbeleni) taifa la Tanzania kuwepo mstari wa mbele kuwazuia wakenya kununua hisa katika makampuni kama haya ya Bongo japo 'sie' tumekuwa tukiwakubalia(mf. katika mauzo ya Safaricom, KCB..). Kwa dhana hii ninaonelea kuwa kwa kuitikia mwito wa kuuza hisa zake kutoka Precision Air, Kenya Airways lazima iwe imekuwa arm-twisted na serikali ya kitaifa ama wenye hisa 'wazito' TZA - Haya ni maoni yangu jinsi ninavyoitathmini swala hili.

Yako ni dhana potofu, Tanzania haikatazi/zuii wageni kununua hisa kwenye makampuni yaloorodheshwa katika soko la hisa la Dar. Kumbuka kuwa, mfumo wa uchumi wa Tanzania bado uko katika hatua za awali za kingia kwenye mfumo wa soko huria, tofauti na nchi kama Kenya ambayo imekuwa ikitumia uchumi wa wa soko huria toka zamani. Hivyo basi, hata sheria zinazoruhusu wageni kununua hisa katika soko la Dar bado zinaendelea kuratibiwa na muda si mrefu hayo yatakuwa ni historia.

[Kisumu Ndogo]

Originally Posted by bantugbro

Yako ni dhana potofu, Tanzania haikatazi/zuii wageni kununua hisa kwenye makampuni yaloorodheshwa katika soko la hisa la Dar. Kumbuka kuwa, mfumo wa uchumi wa Tanzania bado uko katika hatua za awali za kingia kwenye mfumo wa soko huria, tofauti na nchi kama Kenya ambayo imekuwa ikitumia uchumi wa wa soko huria toka zamani. Hivyo basi, hata sheria zinazoruhusu wageni kununua hisa katika soko la Dar bado zinaendelea kuratibiwa na muda si mrefu hayo yatakuwa ni historia.

Nachukua fursa hii kwanza kukukosoa hapo juu; hamna hata chembe mmoja ya dhana potuvu katika uelezi wangu na ndo maana nikalitilia mkazo kuwa haya(vizuizi vya kibiashara) yamefanyika hapo mbeleni kidogo. Ili kusisitiza shuhuda yangu hapa chini nitakupa nyuzi za utanda wazi ambazo zina-nakili ya habari hizi mengi ambayo pia yaliweza kuchapishwa kwa wino ulionooga kurasa ya mwanzo katika magazeti ya kibiashara haswa nchini Kenya na kwingineko.

Microfinance Investment Intelligence : August 2008
http://www.syminvest.com/market/news...2008/8/13/1203

The Citizen : March 2011
http://thecitizen.co.tz/business/14-...ut-of-ipo.html

World Bank : July 2011
http://web.worldbank.org/WBSITE/EXTE...CURL:Y,00.html

Hata hivyo nitakupa upatu kwa kueleza kinaga uiano kati ya maendeleo ya chumi zinazotengenea ubepari na ufunguzi wa soko huria Tanzania kwa muktadha wa nyakati.

[kiligoland]

THE sale of Precision Air shares at the primary market has attracted a good number of buyers and most stockbrokers are optimistic the exercise would be oversubscribed based on the current positive trend.

Zan Securities Chief Executive Officer, Mr Raphael Masumbuko said the IPO has attracted a number of new investors as far as from Ghana.

He said that there are also indications that the pension funds will enter the race at the eleventh hour after studying the market trend.

The IPO ends on Friday. “The progress is good and we are optimistic it will be oversubscribed,” Mr Masumbuko told the ‘Daily News’ on Wednesday.

He said investors from Zanzibar have also bought shares, signifying that the IPO was well perceived.

However, brokers, who generally constitute the biggest sales of IPO, said they could not give figures of oversubscription until the closing of the exercise, as shares are still being sold by commercial banks.

Tanzania Securities Business Analyst, Mr Joel Joseph said the sale trend is progressing well so far. “Corporate buyers normally show up at the eleventh hour after studying the market trend,” Mr Joseph said.

The airline, co-owned by Kenya Airways, announced its intention to raise 28bn/- about three weeks ago through public to finance fleet modernisation as well as its network expansion.

The IPO which sells at 475/-, is offering 58,841,750 shares, which is about 30 per cent of the stake. After the IPO the airline will remain with 35.52 per cent shareholding, Kenya Airways with 34.13 per cent and the public 30.35 per cent.

The airliner plans to fly to 15 international and regional destinations in the next two years, up from five at present. The airline currently flies to the Comoros, Entebbe (Uganda) , Johannesburg (South Africa), Mombasa and Nairobi (Kenya).

It also serves ten local destinations, namely Arusha, Bukoba, Dar es Salaam, Kigoma, Kilimanjaro, Mtwara, Mwanza, Shinyanga, Tabora and Zanzibar.

The airline also plans to introduce flights to Zambia, Mozambique and the Democratic Republic of Congo (DRC). Currently, it has a fleet of eleven aircraft serving 13 domestic and regional destinations.

http://www.dailynews.co.tz/business/...1&cat=business

[kiligoland]

edit

[bantugbro]

Originally Posted by Kisumu Ndogo

Nachukua fursa hii kwanza kukukosoa hapo juu; hamna hata chembe mmoja ya dhana potuvu katika uelezi wangu na ndo maana nikalitilia mkazo kuwa haya(vizuizi vya kibiashara) yamefanyika hapo mbeleni kidogo. Ili kusisitiza shuhuda yangu hapa chini nitakupa nyuzi za utanda wazi ambazo zina-nakili ya habari hizi mengi ambayo pia yaliweza kuchapishwa kwa wino ulionooga kurasa ya mwanzo katika magazeti ya kibiashara haswa nchini Kenya na kwingineko.

Microfinance Investment Intelligence : August 2008
http://www.syminvest.com/market/news...2008/8/13/1203

The Citizen : March 2011
http://thecitizen.co.tz/business/14-...ut-of-ipo.html

World Bank : July 2011
http://web.worldbank.org/WBSITE/EXTE...CURL:Y,00.html

Hata hivyo nitakupa upatu kwa kueleza kinaga uiano kati ya maendeleo ya chumi zinazotengenea ubepari na ufunguzi wa soko huria Tanzania kwa muktadha wa nyakati.

Jibu lako linapatikana kwenye kiunganishi kifuatacho...
http://www.theeastafrican.co.ke/news...z/-/index.html

[kiligoland]

wakuu Twiga mzembe kaota mbawa, mnaonaje?

[bantugbro]

Originally Posted by kiligoland

wakuu Twiga mzembe kaota mbawa, mnaonaje?

Hakawii kuchoka, Twiga mmoja hatoshi ilitakiwa waanze na atleast wa5 hivi..

[kiligoland]

PW BIRD

image hosted on flickr

5H-PAZ by stevesaviation, on Flickr

[kiligoland]

image hosted on flickr

5H-PWF by stevesaviation, on Flickr