Angolan airline TAAG changes from public to limited company

21 September 2018

Angolan flagship airline TAAG is no longer a public company and has become a public limited company, according to a presidential decree approved on Thursday.

A statement from the President’s Office announced that the President of the Republic has decreed the creation of TAAG, SA, “without affecting the identity and legal personality,” replacing TAAG – Linhas Aéreas de Angola, EP.

According to the Angolan legal system, public companies are solely and exclusively owned by the State while public limited companies are created under the Commercial Companies Law in which the State directly or through other public entities, alone or jointly, has a dominant influence.

In the same decree, the Angolan president exonerated the airline’s Board of Directors, appointing, in another decree, a new board, delegating powers to the Ministry of Transport to instate it.

With the decree, the board led since 19 December 2017 by the former Secretary of State for Land Transport José João Kuvíngua has been removed. (macauhub)