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TAAG to buy three Boeing planes. President authorizes 110 million guarantee for company to signal purchase

The President of the Republic, João Lourenço, authorized the granting of a State guarantee in favor of TAAG, in the amount of 110 million dollars, to finance advance payments for the purchase of three new Boeing 787 aircraft.

: Facebook TAAG - Linhas Aéreas de Angola
Facebook TAAG - Linhas Aéreas de Angola  

The Government, in a statement to which VerAngola had access, informs that the flag carrier will purchase three Boeing 787 aircraft, White Tail Dreamliner model, with a view to reinforcing its fleet, in order to provide the company with "the means necessary for its operation".

"The investment requires the advance payment of 150 million dollars, to be made available by the consortium Afreximbank (African Export-Import Bank) and Absa Bank, as lender, and the company Cuanza Limitada, as borrower", says the note.

Therefore, to this end, the President of the Republic authorized the "granting of a State guarantee in favor of TAAG in the amount of 110 million dollars, for the financing of advance payments".

"The Head of the Executive Branch delegated powers to the Minister of Finance, with the ability to sub-delegate, to sign the sovereign guarantee up to the limit of 110 million dollars and all related documentation", says the statement, which adds that the person responsible for the aforementioned ministry must also "perform all legal and administrative acts necessary for the issuance and validity of the guarantee granted under the terms of the presidential order".

For issuing this guarantee, the national airline "must pay a guarantee fee corresponding to one percent of the value of the financing guarantee".

According to dispatch no. 30/25 of 21 January, the acquisition of the aircraft aims to "provide TAAG with the means to meet the challenges of the sector", whose measure is part of the "Executive's strategy to make the country a regional hub, within the framework of the diversification of the country's economy".

In addition to purchasing new means, TAAG is also promoting an internship program. As part of this program, the airline signed a protocol with the Higher Institute of Administration and Finance this Wednesday.

TAAG, in a statement sent to VerAngola, says that in the partnership signed with the Higher Institute of Administration and Finance "places were included for internships in areas of knowledge linked to management, economics, accounting and finance".

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