The warning came despite the airline cutting its operating losses by 35% to $12.8 million.
First-half revenues in the group’s Tanzania unit rose by 65.8% to $31.5 million.
The company has now acquired its first owned aircraft taking the total number in its fleet to six and a new international route has been added between Dar es Salaam and Malawi.
However, problems in its source markets are likely to hamper the company in the second half of its financial year.
