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Government removes Sonair from the privatization list. Company will be liquidated

Sonair will not be sold after all. The government has removed the company from its list of assets to be privatized because it considers that it is no longer economically viable for that purpose, thus going ahead for dissolution and liquidation.

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As Sonair has handed over its Boeing aircraft and ceded some workers to the national company TAAG, there is almost nothing left to privatize.

"At this moment there is nothing left to privatize and therefore the company should move on to dissolution and liquidation," a government source told Expansão.

Sonangol is the sole shareholder of Sonair, which operates in the aviation sector. Since 2015, in its reports and accounts, the company showed signs that it was making losses and was not profitable.

A total of 32 assets were removed from the list of the Privatization Program (Propriv): two companies of the flagship oil company Sonangol (Sonair and ACS Serviços), six industrial units and 24 assets of the Ministry of Agriculture and Fisheries.

The same source, speaking to Expansão, said that "all the companies and assets removed from Propriv are not economically viable.

A new evaluation will soon be carried out to analyse whether or not there are other assets that are no longer profitable, the same source indicated. The evaluation will also serve for the Executive to include other assets, such as Kero, Zimbo and others, that have economic and profitable potential to be privatized.

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