In a statement obtained by Travel News from TAAG, Angola’s national carrier reveals that the government intends to privatise not just the country’s airline but the aviation industry as a whole.
From January 2025, the carrier will fly under the Open Skies agreement alongside the Single African Air Transport Market.
“Before privatisation, TAAG’s Board of Directors is installed to restructure and drive transformation within the company. The expected result is to align TAAG with best practices in aviation and implement a roadmap for business growth,” says the carrier.
As part of the restructuring, a US$120 million (R2,25 billion) bond issue has been planned to recapitalise TAAG. According to africaintelligence.com, the airline has launched a sizeable PR campaign ahead of the privatisation to attract investors but, thus far, says the airline, there is no formal process or deadline for the privatisation to occur. However, there are expressions of interest from potential local and international investors.
TAAG’s privatisation is being managed directly by the Angolan state through the Institute for the Management of State Heritage and Capital. Separately to this, macaubusiness.com reported at the end of last year that Angola would also privatise 51% of its airport management company, Sociedade Gestora de Aeroportos, S.A., a process that the country’s Ministry of Finance will lead.
