Precision Air reported audited earnings results for the year ended March 31, 2014. While legacy liabilities and other extraordinary one-off factors, the company saw an overall remain in the loss-making territory, with an improved bottom line from last year's record red figures of TZS 30.1 billion to just TZS 12.1 billion. However, an operating profit of TZS 3.6 billion compares very favorably with the loss of the previous accounting period of TZS 18.1 billion, an improvement of over 120% year on year, evidence that the turnaround of fortunes for Precision is well underway.

With some of the cost-saving measures initiated by the current management team under Ms. Sauda Rajab only expected to show a full impact during fiscal 2015, it is expected that the company will return to the profit territory either at the end of this or in the following accounting period. In the next year the group will focus tightly on improving profitability and liquidity by increasing revenues and maintaining costs at reasonable levels.