Air Tanzania posts Sh35.2 billion loss
What you need to know:
- The report also revealed that ATCL was among 42 government entities that recorded losses or overspent in two consecutive years
Dar es Salaam. Air Tanzania Company Limited (ATCL) incurred a loss of Sh35.2 billion attributed to flight delays by 25 percent, the Controller and Auditor General’s report for 2021/2022 has revealed.
This is despite cutting its losses by some Sh900 million from Sh36.1 billion from the the previous financial year.
CAG Mr Charles Kichere said that today on Wednesday when handing over the 2021-2022 audit report to President Samia Suluhu Hassan.
He further said that ATCL's strategy was to reach the level of 92 percent level, however, findings show that flight delays contributed to 25 percent of the losses that the carrier incurred
However, the CAG Kichere issued recommendations to public organizations should focus on improving efficiency and improving revenue collection, adding the board of directors should compete in that position.
Last year the CAG report revealed that ATCL’s two Boeing 787-8 Dreamliner aircraft recorded losses worth Sh23.6 billion despite carrier cutting its losses from Sh60.2 billion to Sh36.5 billion in 2020-2021, the Controller and Auditor General (CAG) report reveals.
The report also revealed that ATCL was among 42 government entities that recorded losses or overspent in two consecutive years thus becoming one of the corporations that cannot pay debts within a short period of time.
