• Angola issues $185 million bonds to recapitalize TAAG
• Move aims prepare airline for partial privatization, attract investors
• Restructuring includes fleet expansion, route growth, amid ongoing losses

Angola’s government is accelerating the restructuring of TAAG Angola Airlines as it prepares to open the airline’s capital to private investors. The Finance Ministry has issued treasury bonds worth 170 billion kwanzas ($185.3 million) to recapitalize the carrier.

The move is part of a broader effort to strengthen the airline’s finances ahead of a planned partial privatization. Authorities say it is not a direct cash injection but a public debt instrument used to bolster TAAG’s balance sheet.

TAAG has been undergoing a turnaround for several years and continues to face financial difficulties. In 2024, it reported a loss of 134.2 billion kwanzas, underscoring the need to press ahead with reforms to restore profitability. The recapitalization is intended to clean up its balance sheet, a step the government sees as key to attracting investors.

Alongside the financial restructuring, TAAG is also pursuing operational improvements. Its development plan includes expanding the fleet to 50 aircraft from about 20 currently and launching new routes, particularly across southern, eastern and western Africa. The airline aims to grow traffic to 3 million passengers annually, up from roughly 1 million in 2022.

The government says the support should also improve aircraft availability and help expand the route network, paving the way for more sustainable operations.

Henoc Dossa