Africa-Press – Angola. The TAAG-Linhas Aéreas de Angola restructuring and restructuring plan, since 2018, is allowing the company to achieve the financial sustainability necessary to create value for the country, assured this Monday, the chairman of the Board of Directors ( PCA) of the company, Ana Major.
The restructuring is framed in the reforms for the sector, established by the Ministry of Transport, and the Board of Directors “is firmly convinced of the viability of this process, phase the positive results that forward the company as a viable business”.
According to the manager, the measures adopted allowed for the recovery of the activity levels of 2019, in the sector’s key metrics and the net results for 2022, set at 460 million kwanzas.
It argues that until 2018 the company operated with a cash flow of six days and that, since 2019, the cash balance has fluctuated between 111 and 150 days of financial flow.
To this end, TAAG’s management is introducing changes in the operational chapter, a new organizational culture, staff adequacy and business realignment.
Still from an operational point of view, the company is focused on ensuring the integrity, efficiency, quality and safety of the aircraft, as well as their reliability, from the control point of view.
In this regard, the PCA said that mechanisms are being adopted to control purchases, hiring, supervision of the commercial and sales area, to reduce and mitigate labor fraud, in order to adapt staff to urgent tasks to stabilize the organisation.
In the financial field, Ana Major advanced that the company has been reducing costs and identifying revenue sources, highlighting the effort to collect and renegotiate historical debt forgiveness, with indispensable operational suppliers, honoring the new agreements to regain credibility and reduce risk of disruption of the operation.
As a result, “the audit was approved, indicating the viability of the business, based on rigorous and careful management, giving rise to the distribution of a salary bonus for performance, at the end of the first half of 2022, to the entire effective workforce” , emphasized the manager.
Regarding the perspectives for 2023, the PCA adds that TAAG will continue to approach the world’s leading aviation companies, in terms of performance indicators.
In this regard, continues the official, TAAG will maintain the socially responsible and sustainable recovery and transformation process, with a focus on the rationality of resources and the dignification of technicians, in line with the objectives of economic growth and human development in Angola and Africa, in order to make the flag carrier more resilient, solid and prepared for the future.
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