TAAG-Linhas Aereas de Angola, the national airline of Angola, has announced its financial results for the fiscal year 2022, revealing a remarkable increase in net profit compared to the previous year. The airline reported a net profit of 460.1 million kwanzas, equivalent to approximately USD$800,000, representing a substantial 30% overall growth compared to 2021.
The financial report highlights the significant improvement in TAAG’s operating revenues during the year. The airline’s operating revenues reached an impressive USD$390 million, which is double the revenue volume of the previous year. According to the airline’s Chief Commercial Officer Lisa Mota-Pinto McNally, this substantial increase can be attributed to various factors, including a rise in frequencies and a higher passenger occupancy per available seat kilometer (ASK), which grew by over 80%. This growth rate represents a remarkable 226% increase compared to 2021, bringing the passenger occupancy levels to 51% of the 2019 levels.
In addition to the increase in passenger numbers, TAAG’s results also show a remarkable surge of approximately 180% in Revenue per Available Seat Kilometer (RASK). This achievement is a testament to the airline’s consistent and solid recovery trend from pre-pandemic levels, coupled with a well-executed pricing strategy. Notably, TAAG managed to achieve these positive financial results despite operating a reduced fleet, indicating a more efficient operation and optimized resource management.
The impressive financial performance reflects TAAG’s resilience and adaptability in navigating the challenges posed by the COVID-19 pandemic. Like many airlines globally, TAAG faced numerous operational difficulties and revenue constraints due to travel restrictions and reduced demand. However, the airline’s strategic measures and commitment to providing safe and reliable air travel have paid off, enabling it to bounce back strongly and achieve significant financial growth.
The positive results not only demonstrate TAAG’s ability to weather the storm but also highlight its contribution to the recovery of the Angolan aviation industry. The airline’s success is crucial for the country’s connectivity, economy, and tourism sector, as it plays a vital role in facilitating both domestic and international travel.
As the global aviation industry gradually recovers from the impacts of the pandemic, TAAG’s strong financial performance in 2022 sets a promising trajectory for the airline’s future growth and development. With an efficient operation, enhanced passenger confidence, and a solid foundation, TAAG is well-positioned to continue serving as a key player in Angola’s aviation landscape, contributing to the country’s economic revival and air travel connectivity.