Cabo Verde’s Air Connectivity Boosted as Bestfly Acquires TICV’s Stake
Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Strategic Acquisition Boosts Cabo Verde's Air Connectivity
Bestfly, an Angolan carrier, has acquired a significant stake in TICV, the local airline in Cabo Verde.
This strategic move is expected to enhance air connectivity within the archipelago and beyond.
Bestfly has already taken delivery of a third ATR 72-600 aircraft, indicating its commitment to strengthening its regional operations.
Additionally, the company has partnered with Transportes US and Cabo Verde to provide improved inter-island services, further bolstering the air travel options for visitors and residents.
Cabo Verde's air connectivity has seen a significant boost with Bestfly's strategic acquisition of a stake in the local airline TICV.
This move allows Bestfly to expand its fleet and services within the archipelago.
Bestfly has taken delivery of a third ATR 72-600 aircraft, further strengthening its inter-island services and enhancing connectivity between the islands of Cabo Verde.
The acquisition has also enabled Bestfly to support the inauguration of a modernized port on the island of Maio, demonstrating the company's commitment to infrastructure development in the country.
The strategic acquisition is expected to boost Bestfly's services to European and American markets, offering travelers more options for accessing the island nation.
Bestfly Cabo Verde, previously known as TICV, has been providing primarily inter-island services using its fleet of ATR 72-600 turboprops, and the acquisition is set to expand the airline's reach and offerings.
What else is in this post?
- Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Strategic Acquisition Boosts Cabo Verde's Air Connectivity
- Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - TICV Resumes Domestic Operations Under New Ownership
- Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Bestfly's Expansion Plans - Introducing Regional Jet Services
- Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Government Retains Stake in Revitalized Airline
- Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Embraer E190 Joins Fleet, Enhancing Interisland Travel
- Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Air Senegal Partners with Former National Carrier TACV
Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - TICV Resumes Domestic Operations Under New Ownership
The recent developments in Cape Verde's air connectivity are quite promising.
TICV, the domestic airline, has resumed operations under new ownership by the Angolan carrier BestFly.
This strategic acquisition is expected to significantly boost inter-island travel options for both residents and visitors.
BestFly's commitment to expanding its fleet and services in the archipelago is a positive sign for the future of air travel in the region.
TICV, previously known as Binter Cabo Verde, had ceased operations in May 2021, leaving Binter as the sole air operator of domestic flights in Cape Verde since September The airline's resurrection under new ownership marks a significant turnaround for air connectivity in the archipelago.
BestFly, an Angolan-based aviation company, has acquired a 70% stake in TICV, with the remaining 30% held by the Cape Verdean government.
This strategic partnership is expected to bring in new resources and expertise to strengthen TICV's operations.
On its first day of resumed operations, TICV, now operating under the BestFly Cabo Verde brand, transported over 400 passengers with an impressive 66% occupancy rate.
This strong start indicates pent-up demand for domestic air travel in Cape Verde.
BestFly, known for its presence in the civil aviation sector across several continents, has experience in both charter and commercial operations.
The airline plans to operate two aircraft and offer 800 flights in August, rapidly ramping up its services to reconnect the islands of Cape Verde.
This ambitious expansion strategy aims to make TICV a dominant player in the region's air transport sector.
Interestingly, the takeover of TICV by BestFly is not the company's first foray into the Cape Verdean market.
BestFly has previously partnered with Transportes US and the Cape Verdean government to provide improved inter-island services, laying the groundwork for this latest acquisition.
The resurrected TICV, under the BestFly Cabo Verde brand, is set to operate its main base at the Nelson Mandela International Airport, strategically positioning the airline to serve both domestic and international routes from the archipelago's primary gateway.
Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Bestfly's Expansion Plans - Introducing Regional Jet Services
Bestfly, a Cabo Verdean airline, has expanded its regional jet services with the addition of an Embraer E190 aircraft.
This move aims to establish better connectivity between Cabo Verde, West Africa, and the Azores.
The expansion plans are part of Bestfly's broader strategy to support the economic and social development of Cabo Verde by providing essential air connectivity to both domestic and international destinations.
Bestfly's acquisition of a stake in TICV marks the first time a regional jet has been introduced into Cabo Verde's commercial aviation market, with the addition of an Embraer E190 aircraft to the fleet.
The Embraer E190 is a significant upgrade from the ATR 72-600 turboprops previously operated by TICV, allowing Bestfly to offer faster, more comfortable, and longer-range flights to destinations across West Africa and the Azores.
Bestfly's regional jet services are expected to reduce travel times between Cabo Verde and neighboring regions by up to 30% compared to propeller aircraft, making the archipelago more accessible to both business and leisure travelers.
The introduction of the E190 jet is part of Bestfly's broader strategy to establish Cabo Verde as a strategic hub for air connectivity in the region, leveraging the country's geographic location midway between Africa, Europe, and the Americas.
Bestfly's acquisition of TICV and the addition of the E190 aircraft have enabled the airline to introduce new direct flight routes, including connections from Cabo Verde to cities in Senegal, Guinea-Bissau, and the Azores, which were previously only accessible via indirect flights.
The Embraer E190 is known for its fuel efficiency and low operating costs, which Bestfly aims to leverage to offer competitively priced fares on regional routes, making air travel more accessible to a broader segment of the population in Cabo Verde and neighboring countries.
Industry analysts predict that Bestfly's regional jet services will stimulate increased tourism and business travel to Cabo Verde, as the improved connectivity and reduced travel times make the archipelago more attractive as a destination and hub for regional air traffic.
Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Government Retains Stake in Revitalized Airline
The government of Cabo Verde has repurchased a 51% stake in Cabo Verde Airlines that was previously sold to Loftleidir Cabo Verde in 2019.
The government stated that this repossession is intended to be temporary, as they aim to resume the privatization process when conditions in the international aviation market improve.
Additionally, the government has extended a state guarantee to Transportes Areos de Cabo Verde SA (TACV) for a loan worth 250 million escudos to support the airline's resurgence.
The government of Cabo Verde has repurchased a 51% stake in Cabo Verde Airlines that was previously sold to Loftleidir Cabo Verde in 2019, indicating a renewed focus on state involvement in the airline's operations.
The government has extended a state guarantee worth 250 million escudos (around $24 million) to Transportes Aéreos de Cabo Verde SA (TACV) to support the airline's resurgence, showcasing its commitment to the carrier's revival.
Bestfly, an Angolan carrier, has acquired a 70% stake in Transportes Interilhas de Cabo Verde (TICV), the local airline in Cabo Verde, while the Cape Verdean government retains a 30% stake, demonstrating a public-private partnership approach.
The airline currently operates a fleet of three Boeing 757-200s, with an average age of 26 years, indicating the need for fleet modernization to improve efficiency and passenger experience.
Following the government's repossession of a 51% stake in Cabo Verde Airlines in 2021, the airline is now majority state-owned, signaling a shift in the ownership structure.
In 2022, the government announced plans to provide annual injections of 1 billion escudos (approximately $1 million) over three years to stabilize and revitalize the airline, highlighting the importance of state support.
The government has outlined plans to revise regulations, promote low-cost operations, and manage airports, indicating a desire to create a more favorable environment for the airline industry in Cabo Verde.
The strategic acquisition of TICV by Bestfly is expected to boost the airline's services to European and American markets, offering travelers more options for accessing the island nation, potentially expanding Cabo Verde's reach in the international aviation market.
Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Embraer E190 Joins Fleet, Enhancing Interisland Travel
Bestfly's acquisition of a stake in TICV has enabled the addition of an Embraer E190 regional jet to the fleet, marking a significant upgrade from the previous ATR 72-600 turboprops.
This introduction of the E190 is expected to reduce travel times between Cabo Verde and neighboring regions by up to 30%, making the archipelago more accessible to both business and leisure travelers.
The Embraer E190 is the first jet aircraft to be operated by Bestfly, a charter airline that previously focused on turboprop ATR 72-600 aircraft.
The introduction of the E190 jet will allow Bestfly to offer flights up to 30% faster compared to the previous turboprop fleet, significantly reducing travel times between Cabo Verde, West Africa, and the Azores.
Embraer's E190 is known for its fuel efficiency and low operating costs, enabling Bestfly to potentially offer more competitively priced fares on regional routes.
This is the first time a regional jet has been introduced into Cabo Verde's commercial aviation market, marking a significant upgrade from the ATR 72-600s previously used by the now-acquired TICV airline.
The addition of the E190 jet is part of Bestfly's broader strategy to establish Cabo Verde as a strategic hub for air connectivity in the region, leveraging the country's geographic location between Africa, Europe, and the Americas.
Industry analysts predict that Bestfly's new regional jet services will stimulate increased tourism and business travel to Cabo Verde, making the archipelago more accessible and attractive as a destination.
The Embraer E190 has a range of up to 2,400 nautical miles, allowing Bestfly to connect Cabo Verde with destinations across West Africa and the Azores that were previously only accessible via indirect flights.
Bestfly's acquisition of TICV and the introduction of the E190 jet have enabled the airline to launch new direct flight routes, further enhancing Cabo Verde's air connectivity.
The Embraer E190 is known for its comfortable cabin layout, with a 2-2 seating configuration and generous legroom, providing a more enjoyable travel experience for passengers.
Bestfly's expansion into regional jet operations is a significant milestone for Cabo Verde's aviation industry, showcasing the country's growing ambitions to become a transportation hub in the region.
Cabo Verde's Air Connectivity Boosted as Bestfly Acquires TICV's Stake - Air Senegal Partners with Former National Carrier TACV
Air Senegal has partnered with the former national carrier of Cabo Verde, TACV, to boost air connectivity in the region.
This strategic move aims to leverage Air Senegal's expertise and resources to enhance TACV's operations and resume domestic flights within Cabo Verde.
The partnership will initially focus on restoring services to Lisbon, Portugal, using a Boeing 757-200 aircraft.
This collaboration between the two airlines is expected to improve air travel options for both residents and visitors to the Cabo Verdean archipelago.
Air Senegal's partnership with TACV, Cabo Verde's former national carrier, marks the first time a West African airline has taken over the management and operations of an airline in the archipelago.
TACV, which had been Cabo Verde's primary airline since the country's independence in 1975, had previously halted some of its services to Air Sénégal due to financial and operational challenges.
The partnership will allow Air Senegal to leverage its expertise and resources to enhance Cabo Verde Airlines' air connectivity, with plans to resume domestic flights using a Boeing 757-200 aircraft.
Bestfly, an Angolan carrier, has acquired a 70% stake in Transportes Interilhas de Cabo Verde (TICV), the local airline in Cabo Verde, while the Cape Verdean government retains a 30% stake.
TACV, also known as Cabo Verde Airlines, was established in 1958 and was designated as the national carrier in 1975, before being rebranded in 1983 and again as Cabo Verde Airlines.
The Cape Verdean government has outlined priorities for air transport, including the promotion of low-cost operations and the potential privatization of airports by concession.
In a strategic move, the Cape Verdean government has repurchased a 51% stake in Cabo Verde Airlines that was previously sold to Loftleidir Cabo Verde in 2019, indicating a renewed focus on state involvement in the airline's operations.
Bestfly's acquisition of TICV has enabled the introduction of an Embraer E190 regional jet to the fleet, marking the first time a jet aircraft has been operated in Cabo Verde's commercial aviation market.
The Embraer E190 is expected to reduce travel times between Cabo Verde and neighboring regions by up to 30%, making the archipelago more accessible to both business and leisure travelers.
Bestfly's regional jet services are part of the company's broader strategy to establish Cabo Verde as a strategic hub for air connectivity in the region, leveraging the country's geographic location.
The government of Cabo Verde has extended a state guarantee worth 250 million escudos (around $24 million) to Transportes Aéreos de Cabo Verde SA (TACV) to support the airline's resurgence, showcasing its commitment to the carrier's revival.