Creating an airline is one of the most challenging business ventures anyone could ever undertake anywhere in the world. Tanzania’s Michael Shrima, tells his story of how he was able to build his airline, Precision Air. Precision Air was to become Tanzania’s largest privately owned airline. Today he owns 51 per cent of the airline, the other 49 per cent being owned by Kenya Airways. Here he talks about how he was able to set up the business and the challenges he faced.
In this second clip, Michael Shirima, now retired from the airline business, talks about his other passion, philanthropy. He also He advises young people thinking about a business career to start small and take the opportunity to grow the business in a controlled manner.
The airline industry in Africa is one of the most challenging in the world. It is ripe for deregulation through an open skies policy to make it easier to fly from one country to another instead of having to travel through European and Middle Eastern hubs. The scope for innovation, infrastructure development and services appropriate for an African market are enormous. Yes it is a challenge, but the opportunity is probably the most extensive available in the world to date. Michael Shirima’s story shows that it can be done.