Tanzanian national carrier Air Tanzania (TC) is set to receive a much needed shot in the arm with reports that a consortium led by the Oman-based Al Hayat Development and Investment Company is to invest USD100million (TSH160million) into the struggling airline, with the final Memorandum of Understanding (MoU) to be signed "by the end of next week" (January 18)."As part of this commitment, we (the Omani Consortium) intend to sign an agreement with Air Tanzania to invest 100 million dollars and lead a consortium of other investors that we have close relations with," he said.
Source [DailyNews]
Amongst the facilities and plans outlined by Sheikh Harthy are to:
- build an airline training centre,
- better offices for Air Tanzania,
- buy aircraft,
- engage in "other development activities which they plan to start within six to ten months this year."
Source [VenturesAfrica]
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| Air Tanzania's China Sonangol A320 |
Air Tanzania's Acting Chief Executive Officer, Captain Milton Lazaro, welcomed the development as good news that is likely to see the airline
"stand on its feet once again". Captain Lazaro said his company had
already held initial talks with the imminent investors, who have
expressed their readiness to put money in the organization.
Air Tanzania in recent years has been privy to many potential investors. Its biggest suitor came in 2009 with China-Sonangol, who were lined up for a 49% stake in ailing national airline Air Tanzania (TC) when plans collapsed under uncertain circumstances.
Last year, the Tanzanian government reportedly attempted to court German carrier Lufthansa (LH) for a possible joint venture in the airline.
