The aviation industry in Tanzania is set to experience a boost in flight frequencies and cargo volume in 2023, following an improved business environment over the past years, according to Swissport Tanzania’s latest outlook. The company’s CEO, Mrisho Yassin, said that the ground handling and cargo handling segments have fully recovered from the COVID-19 impact, with airlines operating at average capacity and planning to increase frequencies.
The national carrier, Air Tanzania, is also expected to contribute to the growth of the aviation market with its planned expansion. The export of cargo volumes has increased, and the lounge business is expected to continue its growth.
Swissport Tanzania remains committed to improving the quality of its services, maintaining operational and cost efficiencies, and investing in human resources, technology, training, ground support equipment, and cargo infrastructures. Product innovation, customer retention, and winning new profitable business are the company’s key priorities to sustain and grow its business in 2023.
The company’s financial results for the year ended December 31, 2022, revealed an increase in flight frequencies by 53% and a 20% increase in the volume of cargo handled, resulting in a net profit of 2.61bn/-, up from 2.15bn/- in the preceding year. The company’s total revenue increased by 25% to 38.29bn/-, according to the company’s audited financial results.
In a show of confidence, the company’s board has announced a final dividend of 1.51bn/- or 42/- per issued and fully paid share, to be paid out on or about 21st June 2023.
The Tanzanian aviation sector’s positive outlook suggests a bright future ahead as the industry continues to recover from the pandemic’s impact.