ATCL meaning in Business ?

Answer:

What is Air Tanzania Company Limited mean?

Air Tanzania Company Limited (ATCL) (Swahili: Kampuni ya Ndege ya Tanzania) is the flag carrier airline of Tanzania based in Dar es Salaam with its hub at Julius Nyerere International Airport.

It was established as Air Tanzania Corporation (ATC) in 1977 after the dissolution of East African Airways and has been a member of the African Airlines Association since its inception. The airline was wholly owned by the Tanzanian Government until 2002 when it was partially privatised in partnership with South African Airways, but the government repurchased the shares in 2006, making it once again a wholly owned government company.

In 2016, the Tanzanian government under President Magufuli initiated a new drive to revive the national carrier by acquiring additional aircraft from Bombardier and Boeing. The airline further intended to double its fleet to 14 aircraft by 2022 and increase its longhaul and regional routes.

In April 2021, the Controller and Auditor General warned that Air Tanzania flights flying abroad run the risk of being impounded due to huge debts incurred by the company. He stated that the company had incurred losses of TSh150 billion (USD 65 million) since 2016. However, in May 2021 the Government of Tanzania announced a bailout of USD 194 million for the airline.

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