Download AMAN Application from Apple store and Google play                                Follow us on : Twitter - Facebook - YouTube - Instagram

STATUTES GENERAL ASSEMBLY SECRETARY GENERAL CONTACTS Follow us on Twitter Follow us on Facebook Follow us on Instagram
Daily News
HINA - Split researchers develop electric energy storage systems for ships and households
ZAGREB, 9 May(Hina)-Researchers of the Split Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture (FESB) have developed battery systems...
APS - Algeria-Mali, Tunisia friendly games to take place in June
APS- ALGIERS-The Algerian football team will face Mali on 6 June at Mustapha-Tchaker stadium in Blida (8:45 pm) and Tunisia...
APS - Working group to prepare draft ethics charter in administration, public institutions
APS - ALGIERS - Prime Minister Abdelaziz Djerad announced on Sunday, at the National School of Administration in Algiers, ...
APS - Winners of Algiers Quran Recitation Prize honored
APS-ALGIERS-The winners of the Algiers’ Quran Recitation and Psalmody Prize, and the National Contest for the Holy Quran Young Reciters...
SANA - احتفال مركزي في قاعدة حميميم بمناسبة الذكرى الـ 76 للنصر على النازية
اللاذقية-سانا - بمناسبة الذكرى السادسة والسبعين للحرب الوطنية الروسية العظمى والانتصار على النازية أقيم اليوم احتفال مركزي في القاعدة العسكرية الروسية في حميميم. ...
SANA - مجلس الشعب يبدأ أعمال جلسته الأولى من الدورة العادية الثالثة… عرنوس: الحكومة تعمل لتخفيف الصعوبات التي تواجه المواطن
دمشق-سانا-بدأ مجلس الشعب اليوم أعمال جلسته الأولى من الدورة العادية الثالثة للدور التشريعي الثالث المنعقدة برئاسة حموده صباغ رئيس المجلس وحضور رئيس مجلس الوزراء المهندس حسين عرنوس وعدد من الوزراء....
NNA - Health Ministry: 570 new Corona cases, 26 deaths
NNA-The Ministry of Public Health announced, on Sunday, the registration of 570 new Corona infections, thus raising the cumulative number...
APS - المنتخب الوطني لكرة القدم: الخضر في مواجهة مالي وتونس وديا شهر يونيو المقبل
APS - الجزائر - سيواجه المنتخب الوطني لكرة القدم نظيره المالي وديا يوم الأحد 6 يونيو 2021 بملعب مصطفى شاقر (البليدة) على الساعة 20:45 كما سيواجه منتخب تونس يوم الجمعة...
APS - تشكيل فوج عمل لإعداد مشروع ميثاق الأخلاقيات في الإدارة والمؤسسات العمومية
APS - الجزائر - أعلن الوزير الأول عبد العزيز جراد، اليوم الأحد بالمدرسة الوطنية للإدارة بالجزائر العاصمة، عن "تشكيل فوج عمل" مكون من جامعين وخبراء من اجل "إعداد مشروع ميثاق...
APS - حفل تكريم الفائزين بجائزة الجزائر لحفظ القرآن والمسابقة الوطنية لصغار الحفظة
APS - الجزائر - أشرف الوزير الأول السيد عبد العزيز جراد، مساء أمس السبت، بالمركز الدولي للمؤتمرات عبد اللطيف رحال (الجزائر العاصمة) ، على حفل تكريم الفائزين بجائزة الحزائر لحفظ...
SANA - Cérémonie centrale dans la base de Hmeimim à l’occasion du 76e anniversaire de la victoire sur le nazisme
Lattaquié-SANA / À l’occasion du 76e anniversaire de la grande guerre patriotique russe et de la victoire sur le nazisme,...
SANA - L’Assemblée du Peuple entame sa première séance de la 3ème législature… Arnous : Le gouvernement s’emploie à atténuer les difficultés auxquelles est confronté le citoyen
Damas - SANA / L’Assemblée du Peuple a entamé aujourd’hui les travaux de sa 1ère séance ...
NNA - وزارة الصحة: 570 إصابة جديدة و26 حالة وفاة
وطنية - اعلنت وزارة الصحة العامة تسجيل 570 اصابة جديدة رفعت العدد التراكمي للحالات المثبتة الى 532839، كما تم تسجيل 26 حالة وفاة.
APS - Football : le Mali et la Tunisie au menu des Verts en juin
APS-ALGER- L’équipe nationale de football, affrontera en amical le Mali, le dimanche 6 juin au stade Mustapha-Tchaker de Blida (20h45),...
APS - Création d'un groupe de travail pour la préparation du projet de charte d'éthique dans l'administration
APS-ALGER-Le Premier ministre, Abdelaziz Djerad a annoncé dimanche à l'Ecole nationale d'administration d'Alger (ENA) la création d'un "groupe de travail",...
APS - Les lauréats du Prix d'Alger de récitation du Coran honorés
APS - ALGER- Le Premier ministre, Abdelaziz Djerad, a présidé samedi soir au Centre international des conférences Abdelatif-Rahal (Alger)...
SANA - سورية تدين بأشد العبارات السلوك الهمجي اللاإنساني لسلطات الاحتلال الإسرائيلي وقطعان المستوطنين إزاء الشعب الفلسطيني
دمشق - سانا - أدانت سورية وبأشد العبارات السلوك الهمجي اللاإنساني لسلطات الاحتلال الإسرائيلي ولقطعان المستوطنين إزاء الشعب الفلسطيني والأرض الفلسطينية المحتلة مؤكدة حق هذا الشعب غير القابل للتصرف بحريته...
Lusa - Business News - Cabo Verde: Airline's finances now 'especially good'; no state injection - CEO

Praia,April 16,2021(Lusa)-The CEO of Cabo Verde Airlines (CVA), Erlendur Svavarsson, said on Friday that the financial situation of the company is now "especially good," but that the Cabo Verde state had not injected any funds into it, contrary to what had happened with its competitors based in Portugal.
Speaking to Lusa in Praia after his return on Wednesday from Iceland on the Boeing-757 'Baía de Tarrafal', which landed at the capital's international airport over a year after it was put into storage abroad, Svavarsson explained that the support from the state - which has a 39% stake in the company - has been only in the form of guarantees for bank loans.
"In fact [the state] has not injected any funds, unlike our competitors SATA and TAP, which continue to receive contributions from the state" of Portugal, he stressed. "The government of Cabo Verde has been very diligent with public resources and has not given any money to CVA so far - only guarantees, which means that the company is having access to loans, which now represent sufficient funds to take the next step in the process of refinancing the company."
SATA and TAP - both based in Portugal - are the only airlines that maintain regular connections from the Cabo Verde islands of Sao Vicente, Sal and Santiago to Europe and the US. Both have been receiving state support due to the impact of Covid-19 pandemic.
"CVA's financial situation is especially good because, despite the pandemic, we were able to refinance the company," Svavarsson said. "We gained access to liquidity, with the support of the government."
He cited successive state guarantees backing loans equivalent to about €20 million since November as enabling the company to restructure existing credits and ensure salary payments to workers.
In March 2019, the Cabo Verde state sold 51% of the then public company TACV (Transportes Aereos de Cabo Verde) for €1.3 million to Lofleidir Cabo Verde, a company owned 70% by Loftleidir Icelandic EHF (of the Icelandair group, which took a 36% stake in CVA) and 30% by Icelandic entrepreneurs with experience in the aviation sector (who took the remaining 15% stake of the 51% that was privatised).
According to the CEO, the return to Cabo Verde of the company's first aircraft marks the resumption of operations, although there is still no date for the resumption of flights, which have been suspended since March of last year due to the pandemic.
However, he stressed that over the past year it was possible to keep on more than 300 workers on furlough, through the simplified model created by the government to support companies affected by the pandemic, while not renewing the short-term contracts of others.
"Now we will have to wait to see how the tourism sector recovers and resume operations to determine the level of workers that will continue," he said. "But I must say that we have done a particularly positive job in maintaining social responsibilities towards workers and I want to thank them because at times they have been very patient with us.
"Sometimes salaries were paid late, which is something terrible and I apologise to them for that and I am sure that with a team like this CVA will not fail," he stressed, adding: "Currently, salaries are up to date and that is positive news for everyone."
Despite the difficulties that the Icelandair group is also facing in Europe, similarly to other airlines, due to the impact of the pandmic on tourism, Svavarsson said that its investment in CVA and the hub set up on the island of Sal - to serve as a base for flights to and from Africa, Europe, North America and South America - is to be maintained.
"Absolutely," he said of the hub plan. "It was a strategic investment that was made by Loftleidir Cape Verde and its shareholders, and the belief remains very strong in this business model of connecting four continents.
"The belief remains very strong in Cabo Verde as a tourism destination and when we consider the culture, the people, the atmosphere of 'morabeza' [locals' easy-going warmth] and everything that Cabo Verde has to offer, I believe we have a very strong position," he concluded.
Cabo Verde's government at the end of February announced an agreement with CVA's management on the resumption of operations that it said foresaw the renegotiation of loans with creditors, also involving the Icelandair group, which via Loftleidir supplies the company's aircraft.
Following that, the government on 6 March authorised at the request of CVA's management the fifth state guarantee for an emergency loan, of €12 million euros. With this guarantee, state-backed funding sought by the company since November totals almost €20 million, according to Lusa's calculations.
The new agreement with the government foresees a reduction from three to two aircraft for CVA and the resumption in the short term of flights to Portugal and the US, aimed at serving emigrant communities. In return, the state will bolster its position on the board of directors, so gaining real decision-making power.


Agency : LUSA

Date : 2021-04-17 09:55:00


Copyright © Alliance of Mediterranean News Agencies 2017