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May 28, 2020 (newstodate): The Icelandic stake in Cabo Verde Airlines is now up for negotiations with Cabo Verde's government.
   Plans for Loftleidir Cabo Verde to take over the next tranche of 39 of the 49 percent still held by the Cabo Verde state were aborted in April 2020 due to the uncertainties around the airline's future in the current coronavirus situation.
   Already before the Covid-19 outbreak, the airline was in dire financial straits that have further aggravated during the past months when the state also has been forced to step in to secure salaries for employees.
   The carrier is now preparing for opening flights again from July on a limited route network from the start.
   In 2017, Loftleidir Icelandic, TACV Cabo Verde Airlines and the Government of Cabo Verde inked a management agreement on the restructuring of the loss-making TACV Cabo Verde Airlines, and in March 2019, Loftleidir Cabo Verde, owned 70 percent by Loftleidir Icelandic ehf, and 30 percent by Icelandic investors, acquired 51 percent of Cabo Verde Airlines.
   Based on these new conditions, Capo Verde Airlines in 2019 launched flights to new destinations Lagos in Nigeria, Luanda in Angola, Porto Alegre in Brazil and Washington in the United States, bringing the number of destinations in Europe, Africa and South and North America to thirteen.
   The airline has also expanded its aircraft fleet from three to five Boeing 757-200 aircraft sourced from Icelandair, one Boeing 737-300 and one ATR-42-300, and has been planning to operate a total of 12 aircraft by 2023.