newstodate.aero
Nov 26, 2018 (newstodate): Teaming up with other Icelandic investors, the Icelandair Group's Loftleidir has placed a bid for a majority share in Cabo Verde's TACV Cabo Verde Airlines.
The bid is formally through Loftleidir Cabo Verde, in which Loftleidir Icelandic owns 70 percent of the stake with other Icelandic shareholders holding the remaining stock.
TACV is licensed to operate scheduled flights to Europe and the United States, and the business model sees Cabo Verde as a new efficient turntable for air traffic between Europe, West Africa and the USA.
Cooperating with TACV would also allow Icelandair to optimize its fleet utilization during the slack European winter seasons by seasonally investing aircraft and crews in TACV's operations.
In August 2017, Loftleidir Icelandic, TACV Cabo Verde Airlines and the Government of Cabo Verde signed a management agreement on the restructuring of the loss-making TACV Cabo Verde Airlines and position it as a key strategic asset to contribute to Cabo Verde's potential as a year-round tourist destination, and to develop Cabo Verde's position as a connecting hub with a CAT 1 airport linking four continents.
Since then, the Icelandic experts allocated to the project have worked on a new five-year plan for TACV Cabo Verde Airlines and is now engaged in the task of implementing these new strategies.
At the same time, Boeing 757 aircraft from Icelandair have been operating on lease contracts with TACV that itself operates only one aircraft.
The bid is formally through Loftleidir Cabo Verde, in which Loftleidir Icelandic owns 70 percent of the stake with other Icelandic shareholders holding the remaining stock.
TACV is licensed to operate scheduled flights to Europe and the United States, and the business model sees Cabo Verde as a new efficient turntable for air traffic between Europe, West Africa and the USA.
Cooperating with TACV would also allow Icelandair to optimize its fleet utilization during the slack European winter seasons by seasonally investing aircraft and crews in TACV's operations.
In August 2017, Loftleidir Icelandic, TACV Cabo Verde Airlines and the Government of Cabo Verde signed a management agreement on the restructuring of the loss-making TACV Cabo Verde Airlines and position it as a key strategic asset to contribute to Cabo Verde's potential as a year-round tourist destination, and to develop Cabo Verde's position as a connecting hub with a CAT 1 airport linking four continents.
Since then, the Icelandic experts allocated to the project have worked on a new five-year plan for TACV Cabo Verde Airlines and is now engaged in the task of implementing these new strategies.
At the same time, Boeing 757 aircraft from Icelandair have been operating on lease contracts with TACV that itself operates only one aircraft.