africa Angola Aviation M&A Private Equity Privatization

Angola opens door to private capital in public airlines company

Approximate reading time: 1 minute

The Angolan state has admitted the need for private capitals to be invested in the public Angolan Airlines (TAAG) due to the company’s lack of financial capacity.

Speaking to ANGOP, the company’s CEO, Rui Carreira, has explained that  it must be taken into account that the state has not got the same financial power of yesteryears, when it could finance its own companies.

In the meantime, said the company’s CEO, the private sector comes to the rescue by filling this gap, through the injection of capital to leverage the functioning of the firm and its financial operations.

“The legal pact has already been approved. Its Implementation awaits state decisions. It is the state that will put the shares on sale in the market” TAAG’s CEO has disclosed.

Source: Angop

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