euroAtlantic Airways (YU, Lisbon) has expressed an interest in partnering TACV - Cabo Verde Airlines (Praia) the prime minister of the Cape Verde Islands, José Maria Neves, has told the Lusa news agency.
Neves held talks with the chairman and CEO of euroAtlantic Airways, Tomaz Metello, and the chairman of TACV's board of Directors, João Pereira Silva, last week during which the three touched on the two carriers' existing relationship wherein TACV leases capacity from euroAtlantic on an ad-hoc basis.
"There is already a partnership with various aspects to it, " he said. "From time to time, TACV uses euroAtlantic aircraft and it was within the framework of this partnership that the we met here in Cape Verde. We had already met and talked about it on my last visit to Lisbon. This partnership is ongoing and may eventually lead to euroAtlantic's participation in [TACV's] privatization process when the question is posed."
Saddled with CVE10 billion (USD97.46 million) in legacy debts, TACV has had to rely on government-sponsored funding to maintain its operations. In November, Treasury agreed to extend CVE950 million (USD9.26 million) in preferential loans to TACV while an additional EUR2 million (USD2.2 million) was sourced from the Angolan Investment Bank (Banco Angolano de Investimentos - BAI). Then, earlier this month, Treasury enlisted US-based firm Brown Rudnick to negotiate the restructuring of TACV's debts with its creditors.
Given its current state of malaise, government has attempted to court prospective investors for TACV with China's Okay Airways (BK, Tianjin) and TAAG Angola Airlines (DT, Luanda 4 De Fevereiro) both having expressed an interest.
For its part, euroAtlantic has played a very active role in Portugal's former colonial possessions in Africa. It is currently a strategic partner in STP Airways (8F, São Tome), the national carrier of the São Tomé & Príncipe Islands off the coast of Gabon, and has also been linked to the planned new national carrier of Guinea-Bissau, Air Guiné-Bissau (Bissau).
