Taag 777
WASHINGTON, D.C. -- 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 national flag carrier of Angola, TAAG Angola Airlines, is buying Boeing 777-300ER aircraft with GE90 engines with the support of a long-term loan guarantee from Ex-Im Bank. Photo courtesy of The Boeing Co. |
The performance and economics of the 777-300ER are unbeaten, and its range, capability and efficiency help operators maximize profits. That' s why the 777 is the most popular and commercially successful twin aisle aircraft of all time. The 777 is always outperforming. Learn more about the 777. Aug 30, 2020 TAAG Boeing 777-200ER was used to Johannesburg with 14 first class seats in total in a 1-2-1 configuration. Four rows along the windows with single seats and three rows in the centre with two seats. The first class seat had plenty of legroom.
The TAAG Angola Airlines (DT) Boeing 777-300ER version is used on the airlines ultra-long haul routes to Cuba, Portugal, and South America. The aircraft is configured with 12 semi-enclosed First Class suites, 56 Business Class seats that transform into a fully-flat bed, and 224 standard Economy Class seats. TAAG Linhas Aereas de Angola (also known as Angola Airlines) has ordered two Boeing 777-300ERs and secured purchase rights for two more, Boeing and the carrier announced Thursday. For your next TAAG flight, use this seating chart to get the most comfortable seats, legroom, and recline on.
Ex-Im Bank is pleased to add this transaction to our support for Boeing sales to TAAG Angola Airlines. Our loan guarantees have helped the airline to access affordable financing and build its fleet in order to provide expanded air service for Angola. The U.S. aerospace exports financed by this transaction also will support jobs at Boeing and its hundreds of suppliers across the United States, said Ex-Im Bank Chairman Fred P. Hochberg.
This transaction also adds to Ex-Im Bank's significantly increased support for U.S. exports to sub-Saharan Africa in fiscal year 2011, which has more than doubled over the previous record set last year, Hochberg added.
Ex-Im Bank's financing support of our acquisition of 777-300ER aircraft is critical to TAAG's success in achieving a strongly competitive position in the Africa-to-Europe marketplace, said Dr. Pimentel Araújo, chairman of TAAG Angola Airlines.
The transaction is structured as an asset-backed finance lease in which Ex-Im Bank retains a first-priority security interest in the financed aircraft. Ex-Im Bank's guarantee is supported by a sovereign guarantee from the Angolan government.
Ex-Im Bank previously provided approximately $338.5 million in loan guarantees in 2006 to assist TAAG Angola Airlines in its purchase of B737-700 and B777-200ER aircraft.
TAAG Angola Airlines was founded in 1938 and is based in Luanda, Angola's capital. The state-owned airline has operated flights both domestically and internationally and primarily serves the major cities of Angola and cities in Europe and South America.
About Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services.
In the first seven months of fiscal year 2011, Ex-Im Bank approved $14.8 billion in total financing authorizations, supporting $17.8 billion in U.S. export sales. These sales will support more than 129,000 American jobs in communities across the country. This seven-month authorizations figure is the highest in the Bank's history.
The TAAG Angola Airlines transaction brings the total of Ex-Im Bank's authorizations supporting U.S. exports to sub-Saharan Africa in fiscal year 2011 to approximately $1.75 billion -- more than double the previous record of $812 million set in fiscal year 2010.
For more information, visit Ex-Im Bank's Web site at www.exim.gov.
The flag carrier of Angola is expanding its fleet of Boeing 777s.
TAAG Linhas Aereas de Angola, also known as Angola Airlines, on Monday finalized an order for three 777-300ERs, worth $895 million at list prices.
The deal also includes an option for the airline to buy three additional copies of the plane.
“Boeing and TAAG share a strong partnership dating back more than 37 years. We continue to build on that relationship to ensure we share the next 35 years together,” said Van Rex Gallard, vice president of Sales for Africa, Latin America, and Caribbean, Boeing Commercial Airplanes, in a statement. “TAAG operates an all-Boeing fleet and adding three more 777s to its fleet will help TAAG continue to meet its growing demand with products designed for passenger comfort and airline profitability.”
“As we prepare our airline to meet increased demand for travel to and from Angola, adding three more Boeing 777-300ERs to our current fleet of five 777s will keep us well positioned as one of Africa’s leading airlines,” said TAAG Chairman Dr. Antonio Luis Pimentel Araujo, in a statement. “Our customers prefer the comfort of the Boeing airplanes, particularly the 777, and we are proud to add more of what our customers want to our fleet.”
TAAG currently operates an all Boeing fleet. Two new Boeing 777-300ERs were delivered in 2011, joining three 777-200ERs, three 737-200s and five 737-700s. The 777s currently connect Luanda to Beijing, Dubai, Rio de Janeiro, Sao Paulo and Lisbon, while the new planes will provide additional frequencies on these routes and new European destinations.
Taag 777 Economy
“The addition of these airplanes to TAAG’s fleet will further position our national flag carrier to effectively compete with all the foreign carriers that want to serve the Angola market,” said Dr. Augusto da Silva Tomas, Minister of Transports, in a statement. “TAAG’s fleet will thus be a critical component of Angola’s transportation network and a major contributor to the Angolan economy as a critical foreign revenue earner to our growing economy.”