TAAG acquires three additional Boeing 787s with financial support from the Angolan government

Angola supports TAAG's fleet expansion with the acquisition of three Boeing 787s and a $110 million state guarantee

24 de enero de 2025 - 20:13

TAAG acquires three additional Boeing 787s with financial support from the Angolan government

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The government of Angola has announced the acquisition of three additional Boeing 787s by the national airline TAAG (Linhas Aéreas de Angola) as part of a plan to strengthen its fleet and enhance its operational capabilities. The project will involve an initial payment of $150 million, financed through a consortium led by Afreximbank (African Export-Import Bank) and Absa Bank.

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Angola’s President, João Lourenço, approved a State Guarantee of $110 million to support the financing of the initial installments for the aircraft. The decision was formalized through Executive Order No. 30/25, dated January 21, 2025. This measure aims to ensure that TAAG has the necessary resources to address the challenges of the aviation sector.

According to our partner outlet Aeroin, the Minister of Finance, with the option to delegate these responsibilities, has been designated to sign the Sovereign Guarantee and all related documentation. As part of the financial commitment, TAAG will pay a guarantee fee equivalent to 1% of the value of the issued guarantee.

Boost to the economic diversification strategy

The acquisition of these aircraft is part of the Angolan government’s strategy to position the country as a regional connectivity hub and promote economic diversification. This fleet enhancement aligns with TAAG’s goals of expanding its operations and competing in the regional and international markets.