Sale of Azores Airlines is part of the strategy of the government of Cabo Verde

18 April 2018

The possibility of the Icelandair group taking a stake in the capital of Azores Airlines, the airline of the Portuguese archipelago of the Azores, complements and adds value to the potential deal between that group and Cape Verdean flagship airline Transportes Aéreos de Cabo Verde (TACV), the country’s prime minister said on Tuesday in Praia.

The SATA group, owned by a single shareholder, the Autonomous Region of the Azores, announced on Tuesday that Loftleiðir-Icelandic, a company belonging to the Icelandair group, was pre-qualified as the only potential buyer in the first phase of the private sale process of 49% of the share capital of Azores Airlines.

Ulisses Correia e Silva also said that the deal in no way affects the negotiation strategy with the Icelandic group, which is currently managing TACV and structuring the air platform of the island of Sal, adding that they complement each other very well, “given we are part of Macaronesia and we want the Canary Islands, the Azores, Madeira and Cape Verde to have a greater complementarity of markets.”

The Prime Minister of Cabo Verde, quoted by the Inforpress news agency, also said that negotiations continue with the Icelandair group for the eventual purchase of a 51% stake in TACV.

In early December 2017, Finance Minister Olavo Correia said that the process of privatisation of the international airline business of Cabo Verde should be completed by the end of the first quarter of 2018. (macauhub)