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Cape Verde to set up air charter company
Monday, 17 November 2003 12:08   PDFPrint E-mail
Praia, Cape Verde - Cape Verde plans to set up an air charter company under a partnership between its air company, TACV and Cabo Verde Time, of Italian Holding Turinvest, industry sources said in Praia.

TACV is said to have a limited fleet of Boeing 757s and 737s, which has prevented the company from meeting the demands of the tourist markets, especially in Italy.

This problem has reportedly stifled the development of tourism in Cape Verde, with air operators classifying the country as "a very expensive destination."
The new charter company is expected to meet the development prospects of the country',s tourism and contribute to its policy of opening up to the outside world.

TACV and Cabo Verde Time are expected to control in new company, 52% and 26% share capital respectively, with the remaining shares reserved for Cape Verdean and foreign investors.