DATE LISTED: 21st December 2011
IPO PRICE (TZS): 470
PAL provides regional and domestic carriage of passengers and cargo by air. The company flies to 11 destinations within and outside Tanzania, including Arusha, Kilimanjaro, Mwanza, Bukoba, Mtwara, Kigoma, Tabora, Zanzibar, Nairobi, Musoma, and Hahaya. The company also provides ground handling services; and distributes the Galileo reservation systems to airlines and travel agents in Tanzania. It operates through a fleet of five 70-seater ATR 72-500, three 48-seater ATR 42-500, and a 48-seater ATR 42-600. The company was incorporated in 1991 and is headquartered in Dar es Salaam, Tanzania.
PAL listed 160,469,800 shares on DSE in 2011 after unsuccessful IPO were by it was under subscribed by more than 50%. The IPO price was 470.