Airlines Icelandair selected as a partner for Cabo Verde Airlines

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The Cape Verdean government has confirmed talks with Icelandair about a sale of a majority share in the African country’s carrier Cabo Verde Airlines.

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Cape Verde is an island country spanning an archipelago of 10 volcanic islands in the Atlantic Ocean. The flag carrier of the country, Cabo Verde Airlines, was established in 1958. In the last years, the airline is facing financial problems.

As part of a restructuring program the Cape Verdean government signed an agreement with Loftleidir Icelandic, a company of the Icelandair Group, which turned the administration of Cabo Verde Airlines to the Icelandair Group in August 2017.

According to the aviation newspaper The Aviator, the Cape Verdean government has now selected Icelandair as its strategic partner for the privatization of the nation’s flag carrier. In upcoming talks, both parties will discuss about the sale of a 51% share to Icelandair, with the remaining 49% to be sold to other investors.

In the last years, Cabo Verde Airlines has transferred all domestic routes to Binter Cabo Verde, which is a subsidiary of Binter Canarias. Cabo Verde Airlines currently operates a fleet of one Boeing 757-200, which is leased from Icelandair since November 2017, and one leased Boeing 767-200 on international routes to destinations in Europe (Lisboan, Paris, Milan), to Brazil (Salvador, Recife, Fortaleza) and Boston in the US.

Icelandair as a strategic partner could support the African carrier in building a hub for intercontinental operations. Similar to Iceland, which is located between North America and Europe, the Cape Verdes are located between Europe, Africa and South America. New generation aircraft, like the Airbus A321 Neo or the Boeing 737 MAX 9 could be used to offer connection flights between Brazil and Europe with a stop-over on the Cape Verdes.


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