TAAG Angola Records Historic Profit of Over 460 Million Kwanzas

TAAG Angola Airlines has recently shared the company results regarding the 2022 financial performance, following best practices in transparency and duty to inform key stakeholders. The airline reported a profit in the 2022 financial year (local currency overview) after years of losses.

The press conference opening speech was given by Chairwoman Ana Major, followed by comprehensive explanations from the CEO, Eduardo Fairen, and CFO Gabriela Bastos. Overall, several topics were discussed within (but not limited to) the company transformation journey, business status, and strategy.

The executives also highlighted the key measures adopted by the Board of Management to empower such positive results, as well as TAAG´s vision for the business ahead.

Emphasis on the financial performance and business K.P.I, namely the recovery of volume metrics, unit revenue above pre-pandemic levels, progress in improving all costs, and balance sheet stabilization. Thus, the company is driving negotiations of a new short/long-haul fleet aiming to increase from 20 to 50 aircraft until 2027, following demand dynamics and the business plan. 

Despite the challenging scenario in 2022 namely, high fuel prices, covid restrictions, supply chain constraints, and other external factors, the company was able to recover the pace from 2019 activity levels in the key metrics, achieving positive results in 2022.

As the global aviation industry gradually recovers from the effects of the pandemic, TAAG's financial results in 2022 mark a promising trajectory for the airline's future growth and development.

With efficient operation, increased passenger confidence, and a solid foundation, TAAG Angola Airlines is well-positioned to remain a key player in the panorama of local, regional, and international aviation.