Sao Tome and Principe: Government seeks alternatives to EuroAtlantic in privatisation of STP Airways

8 May 2008

Sao Tome, Sao Tome and Principe, 8 May – The government of Sao Tome and Principe plans to look for alternatives to Portuguese company EuroAtlantic for the privatisation of STP Airways, the infrastructure, public works and urbanism minister said Wednesday in Sao Tome.

Arzemiro dos Prazeres said that, over the next few days, a government delegation was due to travel to Lisbon to inform the Portuguese company of its decision.

The issue is an alleged stalemate between EuroAtlantic and other partners involved in the STP Airways privatisation with regard to who will manage the airline.

The Sao Tome minister charges that STP Airways “should re-launch its flights as soon the shareholders’ pact is signed and the company’s articles of association are drawn up.”

The minsiter added that EuroAtlantic did not agree with the fact that STP Airways could sell its shares to otehr shareholders.

On 28 April, speaking to Portuguese news agency Lusa, the sales director of EuroAtlantic, Eugénio Fernandes said that “the parties involved in this partnership are doing everything to start operating quickly,” noting that once this phase was concluded, “at least 90 days are needed to start international routes.” (macauhub)