Air Tanzania hit a key milestone after a two-year-long Coronavirus crisis as its revenue grew by TZS16.99 billion (USD7.3 million) or 11% from TZS157.60 billion (USD67.8 million) in 2019/20 to TZS174.59 billion (USD75.2 million) in 2020/21, according to latest audit findings by Tanzania’s Controller and Auditor General (CAG), Charles Kichere.
The national flag carrier narrowed its operating losses from TZS 60 billion in 2019/20 to TZS 36 billion in 2020/21, as the auditor general ascribed the airlines’ losses to most of Air Tanzania’s fleet of nine in-house aircraft having cost more to operate than the revenue they generated.
Air Tanzania’s two Boeing 787 Dreamliners caused a loss of TZS 23.6 billion (USD10.1 million) in 2020/21 due to a low load factor caused by Covid-19 and delays in starting international flights.
However, the Wings of Kilimanjaro’s two Airbus A220s and 4 Bombardier Q400s were operating at a profit as of June 2021.
In 2020/21, the 4 Bombardier Q400 planes made a profit of TZS 12.26 billion (USD5.2 million), while the two Airbus-A220s made a profit of TZS 12.09 billion (USD5 million), the CAG’s report says.
The long-term debt of the airline also decreased from TZS391 billion (USD137.4 million) in 2019/20 to TZS306.73 billion (USD132.1 million) in 2020/21.