TACV repairs aircraft engines using bank loan

14 September 2015

The government of Cabo Verde (Cape Verde) has authorised a new loan for Cape Verdean flagship airline TACV (TACV) to be taken out with Caixa Económica de Cabo Verde (CECV), weekly newspaper A Semana reported.

Citing a resolution published in the country’s Official Bulletin, the newspaper said that the State guarantee is intended to secure repayment of a loan of 350 million escudos (US$3.57 million), which will be used to pay for repairs on the engines of the air carrier’s aircraft.

The term of the guarantee is 60 months, and in the resolution the government cited “the positive effects of this funding and the importance of TACV in the national economy, the development of tourism and in the creation of the airline business grouping.

“There is manifest public interest in the financing planned by TACV, as well as meeting all the conditions for granting the requested endorsement,” the resolution said. (macauhub/CV)