TAAG widens net losses in 1H; eyes full-year improvement
TAAG Angola Airlines posted a net loss of US$12m for the 2017 first half, significantly widened from a net loss of $5m in the year-ago half. However, the carrier said the latest results were considerably better than typical historical losses for the first half, which had exceeded $150m in some years. In the 6 months to June 30, passenger revenue grew 16% over the previous year. The airline gave no detailed figures, but the latest results represent something of a rebound from previous years. Angola is heavily dependent on the oil industry and has been badly hit by the slump in prices for the commodity in recent years. It has also been affected by a severe lack of foreign currency. The airline said the main reason for the loss over the past 6 months was a provision of $21m for unpaid tax liabilities in overseas stations relating back to 2010. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-08-04/unaligned/taag-widens-net-losses-in-1h-eyes-full-year-improvement
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TAAG widens net losses in 1H; eyes full-year improvement
TAAG Angola Airlines posted a net loss of US$12m for the 2017 first half, significantly widened from a net loss of $5m in the year-ago half. However, the carrier said the latest results were considerably better than typical historical losses for the first half, which had exceeded $150m in some years. In the 6 months to June 30, passenger revenue grew 16% over the previous year. The airline gave no detailed figures, but the latest results represent something of a rebound from previous years. Angola is heavily dependent on the oil industry and has been badly hit by the slump in prices for the commodity in recent years. It has also been affected by a severe lack of foreign currency. The airline said the main reason for the loss over the past 6 months was a provision of $21m for unpaid tax liabilities in overseas stations relating back to 2010. <br/>
