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KQ records Shs29.7B pre-tax loss for the year ending March 31st

Kenya's National carrier Kenya Airways has posted a record breaking 29.7 billion shilling in loses before tax for the financial year ending 31st March 2015. This is a 51 percent drop compared to last years results where the airline recorded a loss of 4.8 billion shillings. According to the CEO Mbuvi Ngunze, the losses have been attributed to flat revenues, a large increase in fleet cost and an unrealised loss in the hedge                                       The sub-Saharan Africa’s third-largest carrier, said it will seek a $200-million loan and sell assets after posting the biggest loss in the nation’s corporate history. The stock plunged to an 18-year low, to 5.60 shillings by 2:25 p.m. in Nairobi, heading for the biggest decline on record and to the lowest level since May 2003. The airline has appointed African Export-Import Bank as its financial adviser to raise long-term capital and refinance the business, Chief Executive Officer Mbuvi Ngunze told reporters T

Debris washed ashore on Reunion could be from MH370

After almost a year and a half, investigators hunting the missing Malaysia Airlines flight MH370 may have had a breakthrough. Debris washed ashore on the Indian Ocean island of La Reunion  resembles a compnent on a 777 , according to an expert. • Debris has been found on the French island of  Reunion , in the Indian Ocean, about 100 miles south-west of Mauritius and 4000 miles from flight MH370 's last known location • It is a piece measuring about six-foot long with the code number  BB670 , and bears signs that it was in the water for some time •  Experts who have studied photos say it resembles a "flaperon" from a 777 - the same type of plane as MH370 • Its location is consistent with the passage of ocean currents that could have carried it from the search zone •  Malaysia Airlines is sending a team of investigators to study the debris , but officials say it is too early to tell whether it comes from the missing plane • If the debris turns out to b

Precision Air doing well: Shirima

Precision Air board of directors Michael Shirima speaks at a press conference in Dar es Salaam in Febuary this Year.Left is Precision Air group Managing Director and Chief executive Officer Sauda Rajab  and Finance director Elly Osewe . Photo|File  Arusha . Financial woes that subjected Tanzania’s leading private passenger airline Precision Air (PW) into a staggering Sh30 billion loss in 2012 are nothing, but an eye opener for the company, the company’s chairman and majority shareholder, Michael Shirima has said. In an exclusive interview with this paper in his Arusha office recently, the Tanzanian entrepreneur, who solely founded the airline in 1991 as a charter-flight company and later turning it into a full passenger carrier in 1993, dismissed the ever growing paranoid among Tanzanians when it comes to dealing with Kenyans. The airline partnered with Kenya Airways in 2003 in a deal, which left Shirima as the majority shareholder with 51 per cent stake after selling 49

fastjet’s first flight to Lilongwe takes to the skies

Low-cost airline launches sixth international destination with twice-weekly flights connecting Malawi and Tanzania fastjet Tanzania’s first flight between Dar es Salaam in Tanzania and Lilongwe in Malawi took off today, marking the launch of the low-cost airline’s sixth international route in Africa. Flight FN209 departed Dar es Salaam’s Julius Nyerere International Airport at 09h40 with Tanzanian government officials, local passengers and media on board. Upon arrival at Malawi’s Lilongwe International Airport at 10h20, fastjet hosted an official launch ceremony before returning to Dar es Salaam on flight FN210 at 10h55, landing at 13h35 (all local times). The Dar es Salaam – Lilongwe flights will initially operate twice a week on Mondays and Fridays, using the airline’s modern Airbus A319 jet aircraft with seating for up to 156 passengers. fastjet Tanzania expects to add more capacity to this route as demand for its safe, quick, affordable and on-time service i

Crew of crashed Taiwan TransAsia plane shut off working engine: source

Reuters reports that t he crew of a TransAsia Airways ATR plane that crashed in Taiwan in February, killing 43 people on board, had shut off the working engine after the other lost power, a source with direct knowledge of the matter said on Wednesday. The latest investigation report into the Taipei crash, to be released on Thursday, will say data readings showed the almost-new turboprop ATR 72-600 stalled and crashed shortly after the functioning engine was switched off, said the source. The findings of the report, by the Aviation Safety Council, will also focus on flight operations, air traffic control, weather, the air worthiness of the plane and other factors, added the source, who could not be identified because the report has not yet been made public. TransAsia declined to comment on the latest findings. The council report, which neither assigns responsibility nor suggests recommendations for improvement, paints a more detailed picture of the evidence than a prel

fastjet announces new route linking Tanzania and Malawi

fastjet has announced the launch of its 6 th  international route, between Dar es Salaam in Tanzania and Lilongwe in Malawi. Flights  Services between Dar es Salaam’s Julius Nyerere International Airport and Malawi’s Lilongwe International Airport will initially operate twice a week on Mondays and Fridays. The information from fastjet says that flights will depart Dar es Salaam at 10h25 and land in Lilongwe at 11h05, with a flight time of 1 hours 40 minutes. The return flight to Dar es Salaam departs at 11h40, landing at 14h20 (all local times). Tickets for flights on the direct route are on sale immediately, with fares starting from US$50 one-way, excluding airport and government taxes w ith the fastjet promise that the earlier the booking is made, the lower the fare. fastjet fares will be significantly lower than fares charged by the other full-service airlines currently operating direct flights between the two cities. In fact, one way, all-inclusive fares between the tw

SEHEMU YA BAJETI YA WIZARA YA UCHUKUZI (USAFIRI NA UCHUKUZI KWA NJIA YA ANGA ) - 2015/2016

Ifuatayo ni sehemu ya bajeti ya wizara ya uchukuzi kwa upande wa usafiri na uchukuzi kwa njia ya anga kwa mwaka 2015/2016 kama ilivyowasilishwa na waziri Samueli Sitta katika bunge la bajeti mjini Dodoma. 4.0 USAFIRI NA UCHUKUZI KWA NJIA YA ANGA 4.1 Udhibiti wa Usalama wa Usafiri wa Anga 90. Mheshimiwa Spika, Wizara kupitia Mamlaka ya Usafiri wa Anga (TCAA) imeendelea kuhakikisha kuwa viwanja vya ndege na huduma za usafiri wa anga nchini vinakidhi masharti na kanuni zilizowekwa. Ili kuhakikisha kuwa kanuni hizo zinazingatiwa, katika mwaka 2014/2015, viwanja vya ndege vya Kimataifa vya Julius Nyerere (JNIA), Abeid Amani Karume na Kilimanjaro (KIA) vilikaguliwa na kupata vyeti vya ubora kulingana na matakwa ya vigezo vya Kimataifa ya viwanja vya ndege. Aidha, viwanja vya ndege vya Arusha, Mwanza, Kigoma, Tabora, Bukoba, Mtwara, Tanga, Lindi na Iringa pia vilikaguliwa na kupewa vyeti vya ubora. Utekelezaji wa uboreshaji wa viwanja vya ndege nchini ni mzuri kiwango cha

Malaysia Airlines 'technically bankrupt', to cut 6,000 jobs

The newly appointed chief executive of loss-making Malaysia Airlines said on Monday that the carrier is 'technically bankrupt,' as he announced a restructuring programme and plans that will cut about 6,000 jobs. The newly appointed chief executive of loss-making Malaysia Airlines said on Monday that the carrier is 'technically bankrupt'. “We are technically bankrupt...the decline of performance started long before the tragic events of 2014,” Christoph Mueller said, speaking at a news conference.  Already squeezed into years of losses by stiff regional competition, the carrier was seriously affected last year by the loss of two jets in separate disasters. Mueller was making his first public appearance as CEO since being hired last month by the carrier's owner, Malaysian state fund Khazanah, to lead the restructuring. The airline on Monday  The airline said it had "offered jobs" to 14,000 of its 20,000 workforce. The airline is operating as no

fastjet announces its financial results for the year ended 31 December 2014.

Low-cost African airline Fastjet  has  announced its financial results for the year ended 31 December 2014, posting an   increased operating losses of   $72  million as compared to  $55.2 million in 2013.   The loss came despite a  106%  rise in full year revenues to  US$53.8 million  ( 2013 US$26m)    with a  64%  rise in passenger numbers in its Tanzanian operations. Here below is a summary of fastjet’s results for the year to 31 December 2014. Summary highlights ·           Significant improvement in operational and financial KPIs ·           Material corporate structure changes and improvements ·           35% first time fliers on fastjet in 2014 - African growth potential evident ·           95% customer satisfaction level 2014 Operational highlights fastjet Tanzania ·           85% increase in aircraft utilisation (from 5.5 to 10.2 block hours per aircraft per day) ·           62% increase in total seats flown ·           92% punctuality - SAA 84%