Cabo Verde’s flagship airline lays off staff to attract investors

8 March 2016

Cabo Verde’s (Cape Verde’s) flagship air carrier TACV plans to lay off a quarter of its staff in order to reduce debt and make the company more attractive to potential investors, said Monday the chief executive of TACV said Monday .

João Pereira Silva told Reuters the restructuring plan to be implemented required elimination of 120 jobs out of a total of 510, a measure intended to “reduce the size of the team to make the company more profitable.”

In February, TACV saw one of the aircraft in its fleet, a Boeing 737 called “Emigranti” seized in the Netherlands, after AerCap, an aircraft leasing company, submitted a complaint to repossess a debt of US$2.45 million.

The TACV website reports that the airline flies, in addition to domestic destinations to Amsterdam (Netherlands), Bissau (Guinea-Bissau), Providence (USA), Recife (Brazil), Dakar (Senegal), Fortaleza (Brazil), Lisbon (Portugal) and Paris (France). (macauhub/CV)