TACV – Cabo Verde Airlines begins subsidising routes
The government of Cape Verde has begun subsidising low-density domestic flights operated by TACV – Cabo Verde Airlines.
This will assist the loss-making carrier cover operating costs.
The airline is in a restructuring programme with the state assisting financially whilst seeking outside investment.
"We have some potential with our strategic location to attract investors if we restructure the company and bring costs to appropriate levels," said the carrier’s CEO Joao Pereira Silva.
As part of cost-cutting measures, Silva announced plans earlier this year to cut 120 employees by December.
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