Azores Airlines privatization: Six candidates invited to submit proposals

SATA Holding has invited six entities to submit non-binding proposals for the privatization of at least 75% of Azores Airlines. Following an analysis of documentation from eight initial expressions of interest, the group confirmed that six candidates met the requirements set out in the tender specifications.

Binter, the Canary Islands-based operator, is among the candidates. While expressing interest, Binter noted that any progress depends on financial viability and alignment with its existing inter-island and mainland transport model, admitting the airline currently lacks direct strategic synergies with its group.

The privatization process is part of a restructuring plan approved by the European Commission following a €453.25 million state aid package granted to Portugal. The plan includes converting at least €353.1 million of credits into equity. The sale aims to address the airline's significant financial instability, which included a net loss of €53.9 million in 2025 and a net debt of €498.9 million.

The deadline for non-binding proposals is September 21. The tender specifications include a clause prohibiting collective dismissals and job losses for 30 months. The sale process is expected to conclude by the end of 2026.