DUBAI: Emirates said on Tuesday it has signed an agreement with the Angolan government to take on a ten-year management role at the African country’s national airline.
Emirates will appoint four senior managers to work for TAAG Angola Airlines (Linhas Aereas De Angola), but under the agreement will not invest in the African airline. An Emirates spokesperson told Gulf News by email that Emirates will not receive a stake in the Angolan carrier under the agreement.
“Emirates will work closely with the Angolan government and TAAG Linhas Aéreas De Angola to formulate and implement a business plan, provide management support and devise fleet and route network strategies, whilst bringing synergy through the complementary networks,” Emirates stated.
The Angolan government is the major shareholder in TAAG Angola Airlines.
The agreement was signed by Shaikh Ahmad Bin Saeed Al Maktoum, chairman and chief executive of Emirates Group and Airline, and Augusto da Silva Tomas, Angola’s Minister Transport.
In Tuesday’s statement, Emirates said that the “management concession agreement” is tied to a number of conditions “including the receipt of various government approvals.” The Emirates spokesperson declined to comment on the conditions.
This is the first time Emirates has taken a management role at an airline since selling its near 44 per cent stake in Sri Lankan Airlines back to the Sri Lankan government in 2010.
