CEO of CV Airlines recognizes that despite "numerous conversations" still "there is no agreement" between the main shareholders

The CEO of CV Airlines, Erlendur Svavarsson, in a letter addressed to the workers, recognizes that, despite “numerous conversations and good intentions”, there is still “no agreement” between the main shareholders on future financing and settlement of past debts.

“Our deepest hope is that all parties reach an agreement in the coming weeks”, wrote the CEO of CV Airlines, in a letter that Inforpress had access to and which was addressed to workers on August 8th.

In the missive, he appeals to his employees to continue to be “prepared” because “many key markets, such as Brazil, the USA and European countries, apart from Portugal”, may still be closed for a long time.

“We will continue, however, to prepare ourselves to resuscitate Cabo Verde Airlines, connecting four continents from our center in Sal, as soon as the restrictions on flights to and from Cabo Verde are lifted”, said Erlendur Svavarsson, adding that the air carrier national "had no passengers in the last 20 weeks and may not have flights in the next eight weeks".

For the CEO, this situation forced the company's management to make "some difficult decisions" in terms of redundancies and permanent termination of employment contracts".

“These are necessary but difficult steps and I understand the frustration felt by those who wish to continue working but cannot, at least in the short term”, reads the letter.

The CEO of CV Airlines recognizes that the situation is “very complicated” and that many of its employees are suffering “disruptions in domestic cash flows, unable to pay bills and cover other operating costs”.

“… The executive management still does not have a clear message from the main shareholders about the funding and immediate and future development of the airline”, underlined Erlendur Svavarsson, for whom “many steps have been and continue to be taken to ensure that the necessary funds are made available to meet payroll obligations.

LC/JMV

Inforpress/End