Sao Tome and Principe: STP Airways shareholders to meet on 16 July

10 July 2008

Lisbon, Portugal, 10 July – STP Airways, the new Sao Tome and Pricnipe airline headed up by Portugal’s EuroAtlantic, will hold its first shareholder meeting on 16 July, the chairman of EuroAtlantic Airways, Tomaz Metello said in Lisbon Wednesday.

In a statement, Metello said the hope was that Angolan airline Taag would return to the STP Airways project arguing that a flagship airline from a regional African power is essential to the development of relations between the countries and economies in the region.

The meeting’s agenda includes nomination of the new governing bodies for the Sao Tome airline.

The privatisation of STP Airways was granted to Euroatlantic in partnership with Angolan airline Taag, in July 2007, after which negotiations on the model of management were successively delayed or inconclusive.

The Angolan airline was later replaced by Banco Equador (14 percent) and Angola’s Golfo Internacional Air Services (14 percent).

EuroAtlantic has a 37 percent stake in the company and is responsible for its management, whilst the Sao Tome state has a 35 percent stake.

STP Airway’s first international flight, to Lisbon, is scheduled for September.

Negotiations are also underway to acquire an aircraft for regional links between the islands of Sao Tome and Principe.

STP Airways replaced Air Sao Tome at the end of last year, as the latter company was closed down following an air accident that destroyed its only aircraft. (macauhub)