Angolan airline signs contract to buy new Boeing 777-300 aircraft

12 June 2014

Angolan airline Taag Monday signed a contract in Washington to buy another Boeing 777-300 ER aircraft, the Angolan flagship airline said Wednesday in Luanda.

A company statement cited by Angolan news agency Angop said that delivery of the second 777-300 ER was scheduled for December 2015 and the third for March 2016 and that delivery of the first aircraft was now underway at Boeing’s headquarters in Seattle.

According to information provided by Taag the Angolan delegation also signed finance contracts with Cameia LLC (responsible for the aircraft while the finance period is still underway), a Private Export Funding Corporation” (PEFCO) and the Wells Fargo and US Import-Export banks.

The statement said that the US Import-Export Bank and the Angolan government provided 77 percent of the total cost of the aircraft, around US$37.5 million, and Wells Fargo provided 12 percent.

The remaining 11 percent are provided by a syndicate of Angolan banks led by Banco Internacional de Negócios, with the approval of the Angolan government.

Taag’s international routes include Portugal, Brazil, South Africa, Namibia and Cabo Verde (Cape Verde).

The new long haul aircraft for the Taag fleet, which was originally ordered two years ago, will carry 12 passengers in first class, 56 in executive class and 256 passengers in economy class. (macauhub/AO)