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TAAG's restructuring plan has already cost the state 700 million dollars

The restructuring and recapitalization plan of the airline TAAG has already cost the state coffers about 700 million dollars, said this Monday the Minister of Transport, Ricardo Viegas Abreu.

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The minister, who was speaking at the opening of the Angola Aeronautic e-Summit, noted that the executive "makes the commitment" to maintain the flag carrier, for reasons of providing a public service, and for reasons of economic nature, to promote the diversification of the national economy, despite the additional constraints of covid-19.

"In this effort of reaffirmation, TAAG deserved, even in adverse pandemic times, the support of the executive, in the acquisition of six aircraft of the Dash-8 Q400 type, of which three have already arrived in the country, as well as in the approval and implementation of its restructuring and recapitalization plan, which, overall, represented for the country a financial effort of approximately 700 million dollars," stressed the ruler.

Ricardo Abreu declared himself convinced, given the impact of the pandemic on airlines, that the support to TAAG will continue, "especially when in the regional context, we see other brother countries, giving up or even abdicating this vision", which in his view may create a "material opportunity, to perspective other dimensions" for the flagship company.

And he left some messages about his vision for what he expects from the company, whose privatization process he intends to begin in 2022: "in this sector, so demanding, so competitive, so specialized, there is no room for those who do not have the commitment to assume and wear the jersey, there is no room for mismanagement of resources, there is no room for those who do not believe in the reason for existence of a quality service to people, companies and the country.

The minister also mentioned, during his speech, the actions that the Government has implemented, among which the transformation of TAAG into a public limited company, in order to allow the integration of candidates to the privatization process, and the spin-off of the National Company for Airports Exploration and Air Navigation (ENANA) into the National Company for Air Navigation (ENNA), focused on the priorities of air navigation safety and the National Company for Airport Management (SGA) specialized in managing airport infrastructures.

The Angola Aeronautic e-Summit is an initiative of the Ministry of Transport in partnership with Angola iTech, which aims to discuss the challenges and opportunities for the aeronautical future of the country.

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