Liquidation of TACV would cost the State about 60 million euros – Olavo Correia


Praia, Dec 4 (Inforpress) – The liquidation of TACV would cost the State of Cabo Verde about 60 million euros, according to estimates presented today by the Minister of Finance, Olavo Correia, in the Specialized Committee on Finance and Budget.

Olavo Correia, who was heard on the TACV’s management, spoke about the “difficult situation” in which the current Government has met the Cabo Verdean Air Transport Company and the various pressures it has received from external partners to liquidate the company.

However, he added that, at its own option, the Government decided not to liquidate the company and to proceed with the restructuring and privatization process.

“The liquidation costs were very high. Over 60 million euros and we decided to take the costs of this process and go into a framework of restructuring and privatization,” he said, adding that the Government is aware that the privatization process is a” high risk “operation.