Dar es Salaam. The Air Tanzania Company Limited (ATCL) has ruled out the possibility of breaking even in 2022 contrary to their initial plans.
The airline says the pandemic disrupted most of its operations and therefore affecting the laid out plans.
The National carrier’s managing director, Mr Ladislaus Matindi, said their new 15-year Strategic Plan to be formed next year will determine when the company can break even.
He was speaking during the launching of a direct flight from Dar es Salaam to Lubumbashi, Democratic Republic of the Congo via Ndola, Zambia.
“We are doing all in our power to strive in the new norm. I am confident we will make it, hoping that the pandemic will be contained in a near future,” stressed Mr Matindi
“Indicators show hospitality businesses are picking up. This is good news to us and it is high time we capitalised on the opportunity.”
In March the CAG Charles Kichere named ATCL as one of the loss-making companies which has incurred losses worth Sh150 billion in the past 5 years.
"We conducted an operational audit of ATCL and identified the following, by June 30 the Government had purchased eight aircraft for Sh1.2 trillion in an effort to revive the airline."
"The aircraft are owned by the Government and ATCL is leasing them. In addition to purchasing the aircraft for five years 2015/2020 the Government has also provided Sh153 billion for operational and development activities."
The CAG Charles Kichere went on to warn that ATCL flights traveling abroad run the risk of being impounded because of the huge debts and the related interests.
Wheras in October Air Tanzania Company Limited (ATCL) the Parliamentary Accounts Committee (PAC) said the carrier had borrowed Sh896 billion without the approval of the Ministry of Finance and Planning as required by the law.
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