Sao Tome and Principe: Angolan bank replaces Taag in shareholder structure of STP Airways

29 April 2008

Sao Tome, Sao Tome and Principe, 29 April – Angolan bank Banco Comercial do Equador has replaced Angolan airline Taag as the partner of EuroAtlantic in the privatisation of STP Airways, the Sales director of the Portuguese company, Eugénio Fernandes said in Sao Tome.

As well as Banco Equador – created in 2004 in Sao Tome by Angolan groups Mombaka and António Mosquito, each with a 40 percent stake – Gias is also an STP Airways shareholder.

EuroAtlantic, which is owned by tourism group Pestana and the Metello family, will be in charge of managing STP Airways, despite having a minority stake in the company, Fernandes told Portuguese news agency Lusa.

Fernandes also said that the process was in its final stages, and that a further 90 days were needed before international routes were launched.

“The parties involved in this partnership are doing everything to start operating quickly,” Fernandes said.

He gave no indication of the number of weekly flights to Europe and Africa, but guaranteed that at least one flight per week would be operated to Portugal. (macauhub)