SATA Holding announced that it received eight expressions of interest in the privatization process of SATA Internacional/Azores Airlines, for the disposal of at least 75% of the share capital of the Azorean airline. The documentation received is now being analyzed to verify compliance with the participation requirements established in the Specifications.
Interested parties who demonstrate they meet the required requirements will be invited to submit a non-binding proposal, with a deadline of September 21, 2026. This process follows a private negotiation model, with defined phases for qualification, submission of non-binding proposals, and subsequently binding proposals, which may also include an eventual final negotiation phase.
The privatization process is part of the restructuring plan approved by the European Commission for the SATA Group. The Commission approved in June 2022 a Portuguese state aid of 453.25 million euros in loans and state guarantees to support the restructuring of the airline, providing for measures such as reorganization of the structure and divestment of a controlling stake.
The specifications prohibit the elimination of jobs and collective redundancies for 30 months. The privatization must be completed by the end of the year, with the deadline having been extended by the European Commission for one year.
