TAAG announces revenue of $67 million Total revenue from the cargo segment of Linhas Aéreas de Angola – TAAG was around US$67 million, an exceptional result that exceeds the target of US$55.5 million stipulated for this year.
The performance is 20 percent above what was budgeted when there are still four months to go before the end of the year. The income collected by TAAG’s cargo segment has evolved favorably in recent years as shown in the report and accounts (33,695,933.00 USD in 2021, a growth of 14% compared to 2020 in which 29,604,256.00 were collected USD). This positive performance results from teamwork and (among others) from contracts signed by TAAG for charter flights (exclusively for cargo) between China and Latin America (Brazil) via Angola. Currently, TAAG has several active connections from Luanda to Chinese cities (Changsha, Hong Kong, Guangzhou, Shanghai Hongqiao or Beijing) for aircraft loading.
Typically, the cargo transported corresponds to raw materials, agricultural products, electronic equipment and miscellaneous goods. TAAG’s cargo and mail operations are carried out by 3 aircraft, two of which are Boeing 777s for long-haul intercontinental connections, and one Boeing 737 for regional routes. “Cargo and mail transport is increasingly strategic for TAAG with a growing contribution to the company’s sustainability. I also see great benefits and positive synergies for the cargo business with the construction of the future Luanda International Airport, Dr. António Agostinho Neto” says Eduardo Fairen, CEO of TAAG. In parallel with the effort to increase income, TAAG is also committed to reducing costs. The company aims to reduce costs in the order of USD 10 million by August 2023, and this year, between July and August, TAAG’s Procurement and Services Department managed to save USD 1.4 million through renegotiation of contracts and purchases, keeping all services functional.
