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Fri, 04 Sep 2015 11:24 - Updated Fri, 04 Sep 2015 11:24

Air transportation public company envisages USD 100 million/year profit as of 2019

Luanda - The state-owned Angolan Airlines (TAAG) envisages to yield, as of 2019, annual profits of about 100 million US dollars, said last Thursday in Luanda the Transports minister, Augusto da Silva Tomás.

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Augusto Tomás - Angolan Transports minister

Photo: Fotos de Francisco Miudo

The government official was speaking to the press in the end of a joint session of the Economic Commission and the Real Economy Commission of the Cabinet Council, a gathering chaired by the Angolan Head of State,  José Eduardo dos Santos.

The Transports minister also revealed that last year TAAG had losses estimated at USD 99 million, adding that since the company is increasing its air fleet there is a prediction of a boost in its revenue.

Augusto da Silva Tomás went on to say that the development and strategic plan of TAAG, being executed in partnership with the Emirates air company, is very ambitious and represents a new era for the Angolan flag carrier, as well as for the country’s civil aviation sector.

He informed that it is also predicted the increase of TAAG’s destinations to African countries, as well as inter-continental ones, the improvement of services, training of technicians and managers.

The company’s plan includes the increase of its fleet to 21 aeroplanes (ten more) by 2019 and a boost in revenues from the current 700 million dollars to USD 2.3 billion per year.

According to the minister, the objective is to adopt more and more internationally acceptable forms of management, deeming the year 2019 a turning-point in the Angolan civil aviation sector.   

Tags Aviation   TAAG  

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