SATA Holding received eleven expressions of interest in the privatization process of SATA Handling, the ground handling company of the Azorean group. The information was confirmed through a press release, which states that interested parties should have submitted, by September 14, the Suitability and Compliance Form, a declaration of financial capacity and a declaration of effective interest, as provided in the Specifications Document of the private negotiation procedure.
The sale process of the entire capital of SATA Handling falls under the restructuring plan approved by the European Commission for the SATA Group. The company will now analyze the received documentation to verify compliance with the participation requirements, with only candidates who demonstrate meeting these requirements being invited to submit a non-binding proposal.
The Specifications Document, published in late July, requires competitors to have a minimum of five years of experience in ground handling, transport, logistics or infrastructure sectors, as well as the submission of seven-year financial projections. The document also imposes the maintenance of the headquarters in the Azores for at least 30 months, the prohibition of collective dismissals for the same period, and compliance with collective bargaining agreements for three years.
The process, which takes place under a private negotiation regime, was contested by the sector's unions, which accused the Azorean Government of simulating a dialogue with workers and warned of the risk of fragmentation of the SATA group. The privatization of SATA Handling comes in parallel with the sale of Azores Airlines, which has eight competitors in the race for the group's airline carrier, whose specifications document provides for the alienation of between 51% and 85% of the capital, with the accumulated liabilities of the group retained in SATA Holding.
