TAAG Announce Order for Three 777-300ERs

[AeroEntusiasta]

News Release Issued: April 2, 2012 12:50 PM EDT

Boeing, TAAG Announce Order for Three 777-300ERs

Order includes purchase rights for three additional 777-300ERs

LUANDA, Angola, April 2, 2012 /PRNewswire/ -- 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."

The Boeing 777-300ER is 19 percent lighter than its closest competitor, greatly reducing its fuel requirement. It produces 22 percent less carbon dioxide per seat and costs 20 percent less to operate per seat. The 777-300ER has a maximum range of 7,930 nautical miles (14,685 km). TAAG will configure its 777-300ERs to carry 293 passengers in a three class configuration.

TAAG Angola Airlines was founded in 1938 and is based in Luanda - Angola's capital city. TAAG is dedicated to expanding its services and improving the customer experience by acquiring state-of-the-art airplanes, improving its booking system and instituting a customer loyalty program.

Boeing Commercial Airplanes