TAAG needs more than US$950 million in state capitalization

Angola's state airline TAAG needs a state capitalization of US$954 million to cover losses accumulated in recent years, according to the chairman, José Kuvíndua, who presented the carrier's strategic plan for 2018-2022.

The airline needs to money to repay loans and for planned engines and maintenance.

The airline is seeking a partial injection in the near future to cover fuel and at least $150 million to eliminate or reduce the deficit arising from previous losses.

In 1H 2017, TAAG recorded a net loss of $12 million.