OREANDA-NEWS. Emirates and the Republic of Angola, in its capacity as the majority shareholder of TAAG Linhas AЁ¦reas De Angola, announced the signing of a Management Concession Agreement* which will see Emirates take a role in the management of TAAG. The agreement lays the foundation for both airlines to jointly leverage commercial opportunities in Africa and beyond.

The ten year Management Concession Agreement* was signed this morning by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group and H.E. Augusto da Silva TomЁўs, the Minister of Transport for Government of Angola.

This initiative is to further the Republic of Angola's vision to create a world class Angolan carrier with the support of Emirates. As part of the agreement*, Emirates will work closely with the Angolan government and TAAG Linhas AЁ¦reas 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 will not contribute equity under this agreement* but appoint four senior managers to work for TAAG Linhas AЁ¦reas De Angola.

H.E. Augusto da Silva TomЁўs, the Minister of Transport for Government of Angola and His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group sign the Management Concession Agreement

Both airlines will also cooperate across a wide range of areas including bilateral code-sharing on cargo and passenger services, participation of customers in both airlines' frequent flyer programmes and passenger and cargo handling. Emirates has also committed to allocate its resources to staff and crew training on best-in-class business and operational processes and systems.

TAAG Linhas AЁ¦reas De Angola will additionally explore business opportunities with dnata, in particular its passenger and cargo handling, flight catering and travel services. dnata, part of the Emirates Group, is the largest provider of air travel services in the Middle East and employs about 23,000 staff in 38 countries.

H.H. Sheikh Ahmed said: "Through this partnership Emirates aims to provide deeper reach and better connectivity for our passengers in Central & South Africa. At the same time, we see an opportunity for TAAG Linhas AЁ¦reas De Angola passengers to benefit from Emirates' global network.

We see huge potential in Africa, and are keen to continue playing an active role in contributing to its economies. Emirates will continue growing our presence in Africa by opening new routes, increasing flight frequencies, and upgrading aircraft to meet the increasing demand. Exploring mutually beneficial agreements with established carriers such as TAAG Linhas AЁ¦reas De Angola is another key strategy. We believe this new partnership will build on the success that we have seen on our Dubai-Luanda service, and also deliver operational and business synergies for both airlines."

H.E. Augusto da Silva TomЁўs, the Minister of Transport for Government of Angola said: "The signing of this agreement today marks a very decisive step towards the restructuring of TAAG. With Emirates, our new partner and a leader in the world of civil aviation, equipped with know-how, technology and experience, TAAG is starting a new era of growth and progress which will also positively impact the development of Angola."

Angola is Africa's second largest oil producer with a strong mining sector, and is one of the fastest growing economies in the world, making it an attractive business destination. Emirates' first point in Africa was Cairo, launched in 1986, and the airline has since grown a strong presence on the African continent, serving 22 passenger destinations today: Abidjan, Accra, Addis Ababa, Cairo, Cape Town, Casablanca, Dakar, Dar el Salaam, Durban, Entebbe, Johannesburg, Khartoum, Lagos, Luanda, Nairobi, Tripoli, Tunis, Harare, Lusaka, Conakry, Algiers and Abuja.

As African economies continue to flourish and develop, Emirates is well placed to contribute to this growth, by providing valuable air links that enable trade and tourism flows. Emirates operates over 160 flights across the continent each week, connecting African economies and markets with Dubai and beyond to a global network of over 140 major cities.

Emirates currently flies daily to Luanda, Angola's capitol. EK 793 leaves Dubai at 1005hrs and arrives in Luanda at 1500hrs. The return flight, EK 794, departs Luanda at 1800hrs, touching down in Dubai eight hours later at 0510hrs.

The agreement will only take effect after a number of conditions have been satisfied, including the receipt of various government and regulatory approvals.