ERHC Energy Inc (ERHE)

[RubyMartin]

Sao Tome and Principe: Angola’s TAAG and Portugal’s Euro Atlantic win privatization tender for STP Airways [ 2008-02-19 ]


Sao Tome and Principe, 19 Feb - Angolan national carrier TAAG and Portuguese airline Euro Atlantic have been awarded the license to operate STP Airways, the Jornal de Angola newspaper reported Monday.

Citing unidentified sources, the Angolan newspaper said the two airlines were selected by the Sao Tome government from 11 bidders including Angola’s Air Gemini, ESCOM of the Espirito Santo group and various other private investors who were all ruled out due to lack of relevant experience.

When the privatization of Sao Tome’s national carrier is concluded it will net the archipelago’s government nearly US$ 2 million from the sale of its 65 percent shareholding in STP Airways.

Angola’s TAAG, which recently took delivery of two Boeing 777s and three 737s, is taking advantage of the demise of Air Luxor, which operated the Sao Tome-Lisbon route in recent years in parallel with TAP Air Portugal.

STP Airways has operated flights to the islands since October, 2007 using a leased aircraft. (macauhub)