Gov’t to reverse privatisation of Cabo Verde Airlines – PM

by DailyBriefers
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Cabo Verde Airlines confirms late 2Q21 return

02.06.2021 – 01:50 UTC

Cabo Verde Airlines (VR, Sal Amilcar Cabral Int’l) will restart commercial flights on June 18, 2021, more than 14 months since it was forced to suspend operations due to COVID-19 travel restrictions, the company announced.

The resumption will be gradual, starting with one weekly flight on Fridays between Sal Amilcar Cabral Int’l on Sal Island and Lisbon, the Portuguese capital.

From June 28, 2021, until March 28, 2022, Cabo Verde Airlines will fly:

  • 4x weekly between Praia/Sal and Lisbon on Fridays and Mondays;
  • 1x weekly between Praia/Sal and Boston (USA) on Tuesdays, returning on
  • 1x weekly between Sal/São Vicente and Paris CDG on Saturdays, returning on Sundays.

The carrier in a statement said it expected to launch new frequencies and additional destinations depending on the speed of vaccination campaigns and the re-opening of international borders.

Reservations re-opened on March 31 through a new passenger service system that integrates sales, operations, and accounting solutions. The system was installed during the downtime, enforced in March…

Cabo Verde Airlines to be privatised – IMF

08.04.2021 – 06:57 UTC

The Cabo Verde government remains committed to completing the privatisation of Cabo Verde Airlines (VR, Sal Amilcar Cabral Int’l) by selling its remaining 39% stake in the airline through the dispersion of shares on the stock exchange.

This is according to a news release by the International Monetary Fund (IMF), following its third review of Cabo Verde under the IMF’s Policy Coordination Instrument (PCI) technical assistance programme.

This would see the government off-load the burden of bankrolling the loss-making airline, which has cost Cabo Verde EUR20.6 million (USD24.4 million) through five state-guaranteed loans granted to the airline since November 2020.

It also comes as legislative and presidential elections are scheduled for April and October 2021, respectively. A new five-year economic strategy is also to be prepared later this year based on a recently completed long-term development plan, termed Cabo Verde Ambition 2030, that will be presented for parliament’s endorsement this year.

The government currently retains 39% of the airline after it sold 51% to Loftleidir Cabo Verde, a 70/30 joint venture between Icelandair

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