Sao Tome government wants to sell shares in STP Airways

15 November 2006

Sao Tome, Sao Tome and Principe, 15 Nov – The government of Sao Tome and Principe has decided to sell 65 percent of the shares in air carrier STP-Airways in order to generate US$2 million, according to an official statement published in Sao Tome.

The decision was made official in a document signed by the president of the founding commission of STP-Airways, Felisberto Neto, as part of a process aimed at putting the airline into operation, following the demise of Air-Sao Tome.

According to the government statement, the founding commission of STP-Airways has placed 10,000 shares on the market at a price of US$200 per share, and potential investors should present a proposal to buy by November 21.

Headquartered in the capital of Sao Tome, STP-Airways, was set up in October by a government decision signed by the Minister of Planning and Finance, Maria Tebus and the Minister of Public Works and Infrastructure, Delfim Neves.

STP-Airways began to be set up after the closure of Air Sao Tome, which followed the its only aircraft crashing into the sea killing its four passengers.

As well as regional flights along the African coast, STP-Airways plans to run international flights to Europe, via Lisbon. (macauhub)