Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Precision Air gets Sh510 million IFC boost
Precision Air, which is partly owned by Kenya Airways, plans to add 10 new destinations in the next five years. Photo/File
Tanzanian airline Precision Air, which is partly owned by national carrier Kenya Airways (KQ), is set to get between Sh340 million and Sh510 million ($4 million to $6 million) capital injection from the World Bank’s private lending arm, IFC.
In an investment disclosure note, IFC says that Precision Air, which is listed on the Dar-es-Salaam Stock Exchange, will get the money to finance a Sh3.68 billion ($43.2 million) fleet expansion drive that will see it fly to 10 new destinations in the next five years.
