According to a note from the Civil House of the President of Republicam, the chairman of the Board of Directors, Helder Preza, the chairman of the Executive Committee, Rui Carreira, five executive directors and six non-executive directors cease to function.
The note refers the grounds for the decision to Presidential Decree No. 186/20, of 17 July, which adjusted the nominal value of TAAG's share capital and redefined the company's shareholder structure, no longer being fully owned by the State, "if necessary to implement the Restructuring Plan" and "encourage business policy with the aim of achieving its strategic objectives".
TAAG was hit hard by the effects of covid-19 on the circulation of people, having registered a 75 percent drop in the number of passengers transported, and accumulated losses in the order of 372 million dollars in 2020.
João Lourenço dismisses the administration of the air carrier TAAG
This Wednesday, the President of the Republic dismissed the board of directors of the flagship airline, TAAG, basing the decision on the need to implement the company's restructuring plan and its strategic objectives.
