newstodate.aero

Mar 01, 2021 (newstodate): According to media in Cabo Verde, the two main owners of TACV, the airline of Cabo Verde, have come to an agreement over the airline's future.
   The Icelandic partner Loftleidir CaboVerde and the country's government have thus signed a six-points agreement that comprises a plan for recapitalizing the ailing airline by loans, guarantees and reduction of debts; a new five-member Board of Directors with three appointed by Loftleidir CaboVerde and two by the government; and decision on fleet and leasing contracts as well as working out a new business plan to be approved by at least four out of the five Directors.
   The plan is now to renegotiate the leasing terms for the Boeing 757-200 aircraft owned by Icelandair Group and allocated to TACV.
   All flights in Cabo Verde have been suspended since April 19, 2020, and three of four Boeing 757-200 aircraft in the fleet of Cabo Verde Airlines were moved to Miami, USA, for preservation.
   Later, one of these aircraft were moved back to Iceland, and in the future, TACV will be operating only the remaining two aircraft, with leasing terms to be eased.
   The route network will be revised, focusing primarily on traffic to connect the islands with the USA and Portugal where the largest diaspora are located.
   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.