Cabo Verde Airlines announces official privatisation

Lauren Eldershaw
By Lauren Eldershaw March 4, 2019 15:19

Cabo Verde Airlines announces official privatisation

Cabo Verde Airlines in Cape Verde, former TACV, has finished its privatisation process. Loftleidir Cabo Verde is now a majority shareholder with a 51% stake in the company. Jens Bjarnason has been appointed chief executive officer.

Following the official announcement of the Government of Cape Verde, the binding offer submitted by Loftleidir Cabo Verde to acquire 51% of the shares of Cabo Verde Airlines has been accepted. The share purchase agreement was signed on March 1.

Loftleidir Icelandic, which is a subsidiary of Icelandair Group, holds a 70% stake in Loftleidir Cabo Verde, and other investors 30%. Loftleidir Icelandic has been working on consultancy basis with Cabo Verde Airlines since 2017 on restructuring the company and developing its strategy for the future.

“We see great opportunities in both developing Cape Verde Islands as an exciting tourist destination and to make Cape Verde’s international airport in Sal an ideal hub for efficient flight connections between the four continents of Europe, South-America, Africa and North-America. We plan to accomplish this by delivering a reliable and efficient service with a difference: the Cabo Verde’s essence,” said Jens Bjarnason, new Chief Executive Officer of Cabo Verde Airlines.

Lauren Eldershaw
By Lauren Eldershaw March 4, 2019 15:19