Azores Airlines Sets September Deadlines for Privatization Process

SATA Holding has established key deadlines for the privatization of Azores Airlines, with prospective investors required to submit qualification documents by September 6 and non-binding offers by September 21.

The sale process covers at least 75% of the airline’s share capital and forms part of the restructuring plan agreed with the European Commission. Interested parties must first demonstrate their financial capacity and compliance before being invited to submit non-binding proposals.

The privatization process will proceed through qualification, non-binding and binding offer phases, with the possibility of final negotiations. Proposals will be evaluated based on purchase price, financial support for the airline, regulatory and legal considerations, long-term ownership stability and commitments to preserve employment, with the successful bidder prohibited from carrying out collective layoffs or eliminating jobs for 30 months following the transaction.

The current sale process follows an earlier privatization attempt that was abandoned after the only bid received was rejected because of what SATA described as unacceptable risks.