Angola’s flagship airline expected to post a profit in 2019

7 September 2015

Angolan airline Taag should make a profit, which may reach an estimated US$100 million, from 2019, the Minister of Transport, Augusto da Silva Tomás said Thursday in Luanda.

At the end of a joint meeting of the Economic and Real Economy Committees and the of the Cabinet, the minister said the airline in 2014 recorded losses of US$99 million, but stressed that the enlargement of the fleet would be reflected in increased revenue and passenger capacity.

Tomás, cited by Angolan news agency Angop, said he believed the strategic development plans of Taag, to be carried out alongside Emirates, was quite ambitious, “bringing in a new era for the national airline and also for civil aviation in the country.”

The company’s development plan outlines, for 2019, a fleet of 21 aircraft – 10 more than currently – eight Boeing 777-300s and two 777-700s, and revenues increasing from the current US$700 million to US$2.3 billion per year.

It is expected that in 2019, as a result of the partnership with the carrier of the United Arab Emirates, the company will have a transport capacity of 3.3 million passengers per year and that there will be a considerable reduction in operating costs and opening up of new destinations in Africa and the world, such as flights to Houston (USA), Paris (France) and London (England). (macauhub/AO)