The President of the Republic, Daniel Chapo, assures that the intervention of profitable state companies in the restructuring of Mozambique Airlines (LAM) will not harm them, as part of national public opinion fears.

"It's normal skepticism. Something new is always scary. In fact, there has never been a similar exercise... In this process of restructuring LAM, there is no debt from the country, or with the national bank, or any other international financial institution... With a new LAM, it will work as we intend, and in no way will the shareholder companies be affected," he said.

Chapo explained that HCB, CFM and EMOSE's investment is limited to the acquisition of aircraft. They are therefore not going to invest permanently in LAM. "That's not what's planned".

The government recently announced the sale of 91% of the state's shares in LAM to Hidroeléctrica de Cahora Bassa (HCB), Caminhos de Ferro de Moçambique (CFM) and Empresa Moçambicana de Seguros (EMOSE).

According to Chapo, revitalizing LAM is a question of the Mozambican state's sovereignty and, from his executive's perspective, it makes perfect sense for companies in the state business sector with financial stability to make their contribution to saving the national flag carrier.

"It's not true that public sector companies in Mozambique don't generate profits. It's not true. There are companies with financial stability, such as HCB, CFM and EMOSE and many others. That's why we concluded that LAM is a matter of national sovereignty, independence in our country and a symbol of freedom for the Mozambican people. And in its current condition, with leased aircraft, it is unsustainable. That's why we set out to restructure LAM by transforming these public companies into investors in LAM so that we could acquire new planes," he explained.

Speaking at a press conference with national media, Daniel Chapo said that LAM is already being intervened. Consultants with a "good reputation" internationally have been hired.

According to the Head of State, the intervention in LAM will also focus on eliminating unnecessary expenses for its stability as a profitable company.

"We're also going to restructure the size of LAM and cut some of the fat so that it can be a company with international management standards, so that we have a profit-generating company. And these new shareholder companies will be part of LAM and will control the investments that the company will make," he said.