IcelandAir acquires 49% in Cabo Verde Airlines.

The Flag carrier of West African Island of Cabo Verde, Cabo Verde Airlines has ceded nearly half of its ownership to IcelandAir.

The new investments from Iceland Air is expected to boost the competitiveness level of Cabo Verde airlines and also expand its routes which forms the Ministry of Tourism and Aviation’s plans of opening up the island to potential tourism market.

Confirming the new shareholding structure was the country’s Minister of Tourism, Civil Aviation and Maritime Jose Da Silva Goncalves. Speaking at the opening ceremony of the ministerial conference on Air Transport and Tourism in Africa, the minister said, it was part of Government plans to boost tourism sector in the country and initiatives such as this was one of them to drive the initiative.

He also revealed the government of Cabo Verde was in the advance stages of outsourcing the management of the country’s airport (ground handling) to private sector to boost efficiency.

Cabo Verde Airlines in the coming months will announce plans to add Abidjan-Ivory Coast and Lagos Nigeria (awaiting approval to the request of CTCVP) to its routes. As of November last year, Cabo Verde Airlines were running routes to just 10 destinations.

Cabo Verde have had a close working relationship with Icelandair for some time, having codeshared for many years with their northern colleagues. Since 2017, Icelandair have been directing the operations of the airline to save it from entering administration. They have also leased the airline two 757-200s, which make up the entire Cabo Verde fleet.

In a related development, Angola’s TAAG Airlines is to begin service to the island of Sal and it is expected to open up the West African Island to the southern African market.

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