The National Social Security Institute (INSS) has expressed its interest in becoming a shareholder in the national flag carrier, Mozambique Airlines (LAM), which is currently mired in a financial crisis.

The information was provided by the government spokesman, Inocêncio Impissa, who was speaking at the usual weekly press briefing held yesterday (04) in Maputo.

Impissa, who is also Minister of State Administration and Civil Service, said that the government sees the entry of the INSS as a possibility because there are still elements to be uncovered.

"We need to study the possibility further because, as you know, while the three companies that make up LAM's current shareholder structure are public companies, with public capital, INSS is not. The INSS has private and private capital, particularly from the workers," he said, quoted by AIM.

He also explained that the model of whether or not the INSS will come in could be different, "but it's an open space to continue discussing and negotiating. What we know about whether or not the INSS will come in is not yet confirmed, but it is a possibility," he said.

So it is a fact that three national companies, namely Hidroeléctrica de Cahora Bassa (HCB), Caminhos de Ferro de Moçambique (CFM) and Empresa Moçambicana de Seguros (EMOSE) will secure 91% of the LAM shares, estimated at 130 million dollars.

With this amount, the government intends to buy eight planes and pull LAM out of the financial crisis in which it has been mired for a couple of years now, largely due to the mismanagement and corruption that have infested the company.