TAAG Secures $150 Million Financing for Boeing 787 Fleet

The Angolan government has approved a $110 million sovereign guarantee to support its national carrier, TAAG Angola Airlines (Linhas Aéreas de Angola), in acquiring three additional Boeing 787 Dreamliners. This authorization was formalized through Executive Order No. 30/25, issued on Jan. 21.

According to Novo Jornal, the acquisition requires a Pre-Delivery Payment (PDP) of $150 million, which will be financed through a loan from a consortium comprising Afreximbank (African Export-Import Bank) and Absa Bank. Cuanza Limitada, the financial arm of the Angolan state responsible for managing strategic investments, will act as the borrower.

As part of the agreement, TAAG is required to pay a commission of 1% of the guarantee amount ($1.1 million) for the issuance of the sovereign guarantee. The release of these funds was contingent on the government’s approval, which has now been granted.

The three new Boeing aircraft are part of a broader strategy to enhance TAAG’s operational capabilities, aligning with Angola’s vision of becoming a regional aviation hub and promoting economic diversification. To facilitate the transaction, the President has delegated authority to the Minister of Public Finances, granting the power to sign the sovereign guarantee and all related documentation on behalf of Angola.

This delegation also includes the right to subdelegate responsibilities, ensuring a smooth execution of the agreement in accordance with Article 39 of Angola’s public debt issuance and management regulations.

TAAG originally placed an order for four Boeing 787 Dreamliners on October 10, 2023. This order includes two 787-9s and two 787-10s. The first aircraft, a Boeing 787-9, registered as D2-TEQ, was delivered this month.

On December 27, 2024, AerCap Holdings, the world’s largest aircraft leasing company, announced a sale-and-leaseback agreement with TAAG for the Boeing 787-9 Dreamliner. The newly acquired Dreamliners are expected to replace three grounded Boeing 777-200ERs, reinforcing TAAG’s long-haul fleet, which currently consists of five active Boeing 777-300ERs. Additionally, the airline is expanding its short- and medium-haul operations with the introduction of 15 Airbus A220-300s, the first of which was delivered in September 2024.

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Victor Shalton

Victor Shalton's love for aviation can be traced to when he was 11-years-old. As a seasoned aviation writer, he takes pride in providing the best aviation coverage around the globe and is passionate about advancing his skills in the aviation space. In addition, he loves travelling, writing, arts and while his speaking engagements have taken him around the world, he is proud to call Nairobi home.

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