TAAG prioritizes debt reduction to suppliers

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TAAG prioritizes debt reduction to suppliers
TAAG prioritizes debt reduction to suppliers

Africa-Press – Angola. TAAG – Linhas Aéreas de Angola made it known, on Monday, that the company has eliminated, so far, a large part of the debt of US$1.2 billion it had with internal and external suppliers, leaving a value of only 250 millions.

According to the non-executive director, Rui Carreira, who was speaking at the press conference on the balance sheet of the 100 days of the new administration, to carry out these operations, the reinforcement of 700 million dollars provided by the State for the conclusion of the recapitalization process was decisive. .

“TAAG’s debt, left by the previous administration, when it took office, the debt was valued at 1.2 billion dollars. The State operated a reinforcement of 700 million dollars within the recapitalization process, which had two effects, namely, the reimbursement of part of the debt to state companies, which constituted almost 90 percent of that debt; and it also made, in this operation, TAAG to have positive equity, because before that it was negative ”, he said.

According to Rui Carreira, over these years, this debt to state companies has been repaid, but foreign suppliers still have to be repaid, whose debt at the time was around 250 million dollars and, at the moment, it is a value that It’s not very different from this one.

Regarding the debt, the chairman of the Board of Directors, Ana da Silva Major, stressed that the management is finding ways to resolve this issue with some suppliers. “The approach is positive. It allows us to look at various options, which cannot yet be disclosed”, she stressed.

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