Angola: National airline requests $952 million recapitalization to settle debts
Thursday, 10 May 2018 17:37
Angolan national airline TAAG, seeks a $ 952 million recapitalization from the government to repay part of its debt, the company’s Board chairman José Kuvindua said last May8. According to his comments relayed by Macauhub, the outstanding debt amounts to $ 1.063 billion.
Furthermore, in order to enable the company to continue operation and facilitate its expansion program, TAAG’s officials also requested $100-150 million investment in the company's working capital in 2019 and 2020. “The company must receive at least $10 million per month,” Mr. Kuvindua said.
Created in 1938, TAAG operates in about fifteen destinations across the world. In 2015, the company had 14 aircrafts.
Moutiou Adjibi Nourou
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