Cape Verde’s Directorate General of the Treasury has authorised the issuance of two sovereign guarantees to TACV – Transportes Aéreos de Cabo Verde, S.A., facilitating the acquisition of two ATR 72-600 aircraft through financial leasing agreements with TRUENOORD YAMUNA LIMITED.
The aircraft, identified by manufacturer serial numbers MSN 1512 and MSN 1514, will play a crucial role in maintaining the country’s domestic air connectivity.
As an island nation comprising ten islands, Cape Verde relies heavily on air and maritime transport to support its tourism-driven economy and maintain links with its large expatriate community.
Recognising the critical importance of connectivity, the government has prioritised the improvement of domestic mobility and transport infrastructure in its development strategy for the 2021-2026 Legislature.
Following the departure of the only airline that previously provided inter-island connectivity in 2024, the Cape Verdean government swiftly implemented alternative solutions to ensure uninterrupted air travel.
This included an emergency contract with TACV for domestic air transport services, enabling the airline to meet the country’s mobility demands.
To fulfil these obligations, TACV engaged in negotiations with TRUENOORD YAMUNA LIMITED, a leading aircraft leasing company, to secure two long-term Operational Lease Agreements (CLO) for the ATR 72-600 aircraft.
As part of the leasing terms, TRUENOORD required sovereign guarantees from the Cape Verdean government as collateral.
As the majority shareholder in TACV, the State of Cape Verde has acknowledged the public interest in supporting the airline’s fleet expansion.
The decision to grant the sovereign guarantees aligns with the government’s transport sector strategy, ensuring uninterrupted air connectivity across the national territory and reinforcing Cape Verde’s commitment to sustainable transport solutions.
