Boeing (NYSE: BA) and Angola flag carrier TAAG Linhas Aereas de Angola (Angola Airlines) today finalized an order for three additional 777-300ER (Extended Range) airplanes. The order, valued at $895 million at list prices, also includes purchase rights for three additional 777-300ERs.
"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. "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."
Aviation growth throughout the African continent continues to outpace the world average as more people fly to and from Africa. Angola's economy continues to grow at a rapid pace and with that growth comes more demand for air travel.
"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. "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 will continue to grow its route network by using the new airplanes for route expansion including direct routes to Rio de Janeiro and Sao Paulo, Brazil, Lisbon and Oporto, Portugal and other European destinations. TAAG currently operates three 777-200ERs and two 777-300ERs from Luanda, Angola to Lisbon ten times weekly, to Beijing once a week, to Dubai twice weekly, to Sao Paulo four times a week and to Rio de Janeiro three times weekly.
"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. "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."
Source: The Boeing Company (NYSE: BA)
Date: Apr 3, 2012