US company prepares Cape Verde air carrier TACV for privatization

6 December 2006

Praia, Cape Verde, 06 Dec – Cape Verdean air carrier, TACV, is expected to be privatized within a year and the government has already instated US Company, Sterling Merchant to prepare the company, officials said.

Sterling Merchant’s aim is to prepare the carrier for its privatization, which according to the Government, should take place within a year.

TACV (Transportes Aéreos de Cabo Verde) is going through a drawn out financial crisis, which Sterling Merchant and its German partner Morz Transport Consult, are expected to turn around so that the company can be privatized under conditions that are advantageous to the Cape Verdean state.

TACV, which is Cape Verde’s flagship air carrier, was set up in 1958 and is now a public company with 750 workers. (macauhub)