Emirates terminates TAAG Angola management contract

TAAG Angola Airlines B777-300ER

Emirates (EK, Dubai Int'l) has terminated, effective immediately, a ten-year Management Concession Agreement with TAAG Angola Airlines (DT, Luanda).

The agreement was signed in September 2014 and saw Emirates appointing several senior managers to the Angolan carrier's board in an effort to help it reach sustainable profitability through a leaner workforce and a more commercially-viable network. Emirates acquired no equity in TAAG despite the agreement.

However, in a statement issued to the LUSA news agency on Monday, July 10, the Dubai-based carrier said it had decided to terminate its contract with TAAG following what it said were "the prolonged difficulties it has faced in the repatriation of revenues" from the sales of tickets in Angola.

As an oil-dependent economy, Angola, like Nigeria, Sudan, and Venezuela, has suffered from chronic shortages of foreign currency given decreased revenue inflows from petroleum exports.

"This issue has remained unsolved, despite numerous requests to the competent authorities and guarantees that measures would be taken," Emirates said.

"With immediate effect, Emirates is ending its cooperation with TAAG - Angola Airlines - under a management concession contract in place since September 2014. We expect the issue of the repatriation of funds to be resolved as soon as possible so that business operations can be resumed according to demand," it ended.

As part of its winding down of its Angolan operations, Emirates has also scaled back its 5x weekly Dubai Int'l-Luanda service, to 3x weekly effective July 10.

Source: https://www.ch-aviation.com/portal/news/57726-emirates-terminates-taag-angola-management-contract

Comments

Post a Comment

Popular posts from this blog

THE COFFEE ENTREPRENEUR WHO TRANSFORMS LIVES IN UGANDA: ANDREW RUGASIRA.

Looking at the article below on CNN about Andrew Rugasira "the Coffee entrepreneur who transforms lives in Uganda", it inspired me to think and reflect on the possibility for Africans and many developed countries to not only produce raw materials but transformation to finished products for global consumption. African countries should work hand in glove, helping each other through an extensive business web or network. I believe Africa as a continent has come of age and the time is ripe when our politicians should focus on increasing responsibility and eradicate preoccupations like corruption. (CNN) -- Tired of seeing developed nations take the lion's share of profits from his countrymen's coffee crop, Ugandan businessman Andrew Rugasira decided back in 2003 that it was time for a new business arrangement. Uganda is Africa's second-biggest exporter of coffee beans, currently producing around 3.4 million bags per year . Yet instead of being refined loc...
muxajax@blogger.com

hp - SPECTRE

Image
With no reference to the 007 sequel, I bring to you the the HP - SPECTRE. The latest release from HP sets the record straight as the world s thinnest laptop coming at 10.4mm, weighing just 2.45lbs  and a screen size of 13.3". The Specter ships in 2 product options below Price: $1,169.99 HP Spectre Laptop (13.3") Windows 10 Home 64 6th Generation Intel Core i5 processor 8 GB memory; 256 GB SSD storage 13.3" FHD display Intel® HD Graphics 520 Price: $1,249.99 HP Spectre Laptop (13.3") Windows 10 Home 64 6th Generation Intel Core i7 processor 8 GB memory; 256 GB SSD storage 13.3" FHD IPS UWVA display Intel® HD Graphics 520   (up to 4.09 GB) According to HP, we will be looking at each of the defining aspects using cutting edge technology that makes it standout from the rest in the business. Lets take a look under the hood. OS: Windows 10 Home 64 Body Style: This featherweight 13-inch di...
muxajax@blogger.com

SAA eyes 5th Freedom for African Skies.

Image
SAA Fleet in Airline Livery Given the success it has seen at its West African hub in Accra, Ghana, South African Airways (SA, Johannesburg O.R. Tambo) is seeking to expand its 5th Freedom business model to include more destinations across Africa. The Star Alliance carrier began operations out of the Ghanaian capital to each of Abidjan and Washington Dulles in August 2015 by virtue of the country's liberal policy of awarding foreign carriers 5th Freedom traffic rights. Similar rights have since been secured from the Gabonese and Cameroonian governments paving the way for the launch of a 3x weekly Johannesburg O.R. Tambo-Libreville-Douala-Libreville-Johannesburg service. As such, the carrier's acting General Manager (Commercial), Aaron Munetsi, told African Aerospace earlier this year that as part of SAA's renewed focus on developing its continental African market access, it is now looking to expand the offering to countries closer to home. Among the African c...
muxajax@blogger.com