Emirates has ended its management of TAAG Angola after just two years of a 10 year contract. The spat comes as Emirates has been unable to get the money its owed for ticket sales on what was its daily flight from Dubai to Luanda.
The money is trapped by foreign currency regulations the Angolan government won’t lift. Emirates cut the daily flights in protest, to 5 weekly and now 3 weekly. Termination seems inevitable.
TAAG Angola had been doing well going from $119 million loss to just $5 million in 18 months of Emirates management.