Minister guarantees solution for Cabo Verde Airlines by end of August

8 August 2017

The privatisation of TACV Cabo Verde Airlines will be completed this August, Cabo Verdean Finance Minister Olavo Correio guaranteed on Sunday in Ribeira Grande de Santiago.

The government is mobilising partnerships and creating the necessary legal framework so that “at the right time we will present a good solution to the country,” said Correia, cited by Inforpress news agency.

The idea underlying the government’s intention is to make Cabo Verde a cargo and passenger transport hub with a view to enhancing business and opportunities.

The government is convinced that there are risks that must be managed, Correia said. He mentioned the case of the airline’s indebtedness, with accumulated liabilities of nearly 100 million euros, and indemnity payments to workers.

TACV stopped making inter-island flights last 1 August. That business has been taken on by Binter Cabo Verde, the Cabo Verdean subsidiary of Binter, an airline based in the Canary Islands. (Macauhub)