TAAG Angola Airlines : DT : DTA

LUANDA, March 31, 2010 (AFP)

Angola's transport minister on Wednesday welcomed the removal of national airline TAAG from a European Union blacklist, saying the government made a "good decision" in restructuring the company.

2010 AFP

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Angolan flag-carrier TAAG has announced an order two [Vous devez être inscrit et connecté pour voir ce lien]-300ERs in a deal that includes purchase rights for two additional 777-300ERs.
The two aircraft are valued at about $544 million at list prices, says [Vous devez être inscrit et connecté pour voir ce lien], which did not say when the aircraft will be delivered.
TAAG's order was originally posted as unidentified on the airframer's orders and deliveries website in 2009.
The airline will operate the aircraft on new routes to additional European destinations, says Boeing. "TAAG currently flies Boeing 777-200ERs 10 times weekly from Luanda, Angola, to Lisbon, twice weekly to Beijing via Dubai and four times weekly to Rio de Janeiro," it adds.
TAAG is allowed to use only 777 and 737-700 aircraft in Europe due to safety regulations set down in the European Union's airline blacklist.
"The efficiency, reliability and popularity of the 777 family will contribute to TAAG re-establishing itself as one of Africa's premier airlines," says Marlin Dailey, VP of sales, Boeing Commercial Airplanes.

The national flag carrier of Angola, TAAG Angola Airlines (Linhas Aéreas de Angola) is purchasing Boeing 777-300ER aircraft with GE90 engines assisted by an approximately $256 million long-term loan guarantee from the Export-Import Bank of the United States (Ex-Im Bank).

The aircraft will be used to expand TAAG’s intercontinental service provided through its all-Boeing fleet.

The guaranteed lender is the Private Export Funding Corporation (PEFCO) in New York, N.Y. HSBC Bank PLC in London, U.K., is the arranger.

A ceremonial signing took place today at Ex-Im Bank headquarters in Washington, D.C. Participants were Ex-Im Bank Chairman Fred P. Hochberg, TAAG Angola Airlines Chairman Dr. Pimentel Araújo and PEFCO Senior Vice President Richard Youtz.

Also signing were Matinho Codo, chargé d’Affaires of the Republic of Angola to the United States; Miguel Santos, director of International Sales for Boeing Commercial Airplanes; and Richard Hodder, director, Sub-Saharan Africa, Project and Export Finance, HSBC.