TAAG no longer accepts Kwanza for incoming international flights
TAAG - Linhas Aéreas de Angola no longer accepts the Angolan currency, the Kwanza, for the payment of tickets for trips that start outside of Angola. The company had already adopted this policy a few years ago due to the currency shortage in the country, which affected all airlines, for which Angola has accumulated a large debt.
In a press release published on Tuesday, September 22, the carrier indicates that this change aims to resolve the difficulties of acquiring foreign currency for its operations abroad.
Indeed, so far the carrier is strongly linked to exchange rates in order to be able to acquire foreign currency, but the Kwanza continues to lose its value (more than 40%) since the oil crash of 2014. Angola has dangerously flirted with recession and squandered its dollar reserves to support its currency in vain. This currency shortage particularly impacts hundreds of companies that employ foreign workers and source internationally. Since then, Angola has imposed limits on the transfer of foreign currency abroad to stem the outflow of capital.
From now on, for routes started outside the country, tickets must be sold in the currency of the country of departure, or in a convertible currency. This last requirement also applies to the purchase of tickets online, with the use of a credit card. In this specific case, even trips that start in Angola are subject to the same principle.
According to Carlos Vicente, TAAG's communications manager, the measure has some exceptions. The kwanza is accepted for trips that begin outside the country in cases related to study abroad, illness or death, and upon justified request by the person concerned. The exception also applies to the payment of penalties on tickets purchased during border closures due to Covid-19.
In a press release published on Tuesday, September 22, the carrier indicates that this change aims to resolve the difficulties of acquiring foreign currency for its operations abroad.
Indeed, so far the carrier is strongly linked to exchange rates in order to be able to acquire foreign currency, but the Kwanza continues to lose its value (more than 40%) since the oil crash of 2014. Angola has dangerously flirted with recession and squandered its dollar reserves to support its currency in vain. This currency shortage particularly impacts hundreds of companies that employ foreign workers and source internationally. Since then, Angola has imposed limits on the transfer of foreign currency abroad to stem the outflow of capital.
From now on, for routes started outside the country, tickets must be sold in the currency of the country of departure, or in a convertible currency. This last requirement also applies to the purchase of tickets online, with the use of a credit card. In this specific case, even trips that start in Angola are subject to the same principle.
According to Carlos Vicente, TAAG's communications manager, the measure has some exceptions. The kwanza is accepted for trips that begin outside the country in cases related to study abroad, illness or death, and upon justified request by the person concerned. The exception also applies to the payment of penalties on tickets purchased during border closures due to Covid-19.
Source: newsaero
