Chinese company interested in privatisation of Cabo Verde’s flagship airline

29 January 2014

A Chinese company has shown interest in the privatisation of Cabo Verde’s flagship airline Transportes Aéreos de Cabo Verde (TACV), the archipelago’s minister for finance and Planning, Cristina Duarte said, cited by the Cape Verdean press.

The minister, who did not name the Chinese company, said that the interest shown was due to TACV, as well as power and water company Electra – Empresa de Electricidade e Água, starting to post positive results after a long restructuring process.

The minister noted that TACV is facing a more difficult financial situation than Electra, as 2012 was a “rather negative” year, which changed in 2013 when results “were far higher than those posted the previous year.”

According to Cape Verdean newspaper A Semana, representatives of Okay Airways, a private Chinese airline were in Cabo Verde in November 2013 and toured the country’s airports accompanied by representatives of TACV and airport company ASA.

The Chinese airline plans to take a stake in the Cape Verdean flagship airline and operate the routes that TACV ahs to Africa, Europe, Brazil and the United States, as well as carrying Chinese trade cargo to Africa. (macauhub)