Angola’s state-owned airline, TAAG, is set to acquire Boeing 787-10 aircraft and spare engines through a $297 million financing package backed by the U.S. Export-Import Bank (EXIM).
- TAAG Angola has secured $297 million financing from the U.S. Export-Import Bank for purchasing Boeing 787-10 aircraft and spare engines.
- The deal supports around 1,400 jobs in supply chains across the United States, notably in South Carolina and Ohio.
- This acquisition aligns with Angola’s strategy to boost its aviation industry and economy by establishing a regional hub.
Angola’s state-owned airline, TAAG, is set to acquire Boeing 787-10 aircraft and spare engines through a $297 million financing package backed by the U.S. Export-Import Bank (EXIM).
The deal, announced Wednesday, will cover the purchase of wide-body jets and General Electric Aerospace equipment, Bloomberg reported.
The transaction is expected to support approximately 1,400 jobs in South Carolina, Ohio, and throughout the United States in both companies’ supply chains.
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“With nearly 1,400 jobs supported across the United States through this transaction, EXIM continues to fulfill its mandate to support jobs through exports,” said James Cruse, acting president and chairman of the bank.
“With today’s approval, we are supporting the nation’s economic security while bolstering Angola’s economy through the export of these aircraft and engines.”
Luanda’s $3 billion gateway ambition
The deal forms part of Angola’s wider plan to position the new $3 billion Dr. Antonio Agostinho Neto International Airport in Luanda as a major regional and intercontinental hub. Though financed by China, Angola retains full ownership and operational control of the facility.
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Transport Minister Ricardo Viegas d’Abreu said the airport is designed to serve as a central node linking Angola’s ports, railways, and air corridors within a broader national logistics network.
In its first phase, the airport can handle up to 130,000 tonnes (287 million pounds) of cargo annually, with expansion plans targeting 444,000 tonnes (970 million pounds).
The new airport is expected to rival OR Tambo International Airport in Johannesburg, positioning Angola as a key aviation gateway for sub-Saharan Africa while spurring economic growth and enhancing regional connectivity.
