TAAG expects widebody decision by late 2Q23

TAAG Angola Airlines (DT, Luanda) has confirmed it has returned to the table with Boeing after resolving historical financial issues as the airline negotiates with both OEMs, including Airbus, for a new widebody fleet expected to be announced in June next year.

"We have returned to the table with Boeing after reaching an outstanding agreement to settle our differences. We are talking with both OEMs for the widebody fleet," confirmed TAAG Chief Executive Officer Eduardo Fairen. He reiterated that the airline hoped to make an announcement at the next Paris Air Show.

Boeing declined to comment when approached by ch-aviation.

Fairen was reacting to comments made by Angolan President João Lourenço in Washington DC, USA, on December 12 on the sides of the US-Africa Leaders' Summit. "At the beginning of my mandate, we started negotiating with Boeing to purchase more aircraft, but, at the time, we encountered a constraint that was linked to debt limits. Angola's public debt was very large," he said, adding that international financial institutions had cautioned Angola not to exceed the limits of its public debt. Once this issue was resolved, there were conditions for returning to fleet renewal talks with Boeing.

In April 2019, Lourenço had ordered an indefinite deferral of Memoranda of Understanding (MoUs) for fleet renewals and the reversal of all financial transactions with aircraft suppliers after the International Monetary Fund, which had approved a USD3.7 billion extended credit facility to Angola, had raised concern over the unsustainability of the country's debt.

As previously reported, TAAG had signed two MoUs with Boeing for 14 aircraft and had made a pre-delivery payment of USD2.86 million. It was looking to replace its ageing B777-200(ER)s with B787-8s. Then-CEO Rui Carreira had planned to use funds previously deposited with Boeing for two unwanted, optioned B777-300s.

According to the ch-aviation fleets advanced module, TAAG's current widebody in-house fleet comprises three B777-200(ER)s and five B777-300(ER)s.

Ch Aviation