Growth in tourism in Cape Verde drives investment in regional aviation
Cape Verde’s rapidly growing tourism economy is driving investment in regional aviation, according to airline startup TransVerde Airlines. With tourism booming in the 10-island West African archipelago, which is expected to reach around 1 million visitors in 2023, the need to modernize air service is crucial to meet growing demand from visitors and residents.
TransVerde Airlines, a low-cost carrier with digital operations, is exploring a $15 million investment to revolutionize air travel in the Cape Verde Islands and expand its services to neighboring countries in West Africa.
Led by an experienced management team, the company aims to fill a critical gap in the region's transportation network.
Rui Lima, founder and CEO of TransVerde Airlines, highlighted the guaranteed passenger demand and the urgent need for improvements in transportation infrastructure to facilitate the flow of people and goods between the islands. This would help sustain the local economy by ensuring the efficient movement of resources.
Lima highlighted Cape Verde’s untapped tourism potential, citing its serene beaches and rich cultural heritage. He stressed the need for infrastructure that would allow tourists to explore multiple islands and better distribute the economic impact of tourism among local communities.
TransVerde Airlines initially plans to connect the islands of Santiago, Sal and São Vicente, with plans to expand to the whole of Cape Verde and other West African countries in the future. The company was founded by business and aviation management experts, and seeks to use technology to meet customer demand effectively.
The company intends to offer passenger and cargo transportation services, with an initial focus on inter-island connectivity. In July 2024, cargo traffic in Cape Verde increased by 37.6%.
Raul Zapico, Project Director at TransVerde Airlines, mentioned that obtaining the Air Operator Certificate (AOC) is underway, with the next step being securing funding to promote the inter-island travel strategy.
TransVerde Airlines is seeking $15 million in equity and debt financing to target key areas for launch and future growth. With an initial fleet of three ATR-42/72 aircraft, the company hopes to get Cape Verdeans off the ground and connect them efficiently.
source: Aeroin
