Azores Airlines receives five proposals for privatization

SATA Holding has received five non-binding proposals for the acquisition of at least a 75% stake in Azores Airlines. This follows a deadline that concluded on September 21. The current privatization process, conducted through private negotiation, is part of a restructuring plan approved by the European Commission.

Out of an initial eight expressions of interest, six entities were deemed eligible to submit non-binding proposals, with five ultimately proceeding. The identity of the bidders has not been disclosed. Evaluation criteria include the proposed value, contributions to the company’s economic-financial capacity, financing conditions, and commitments regarding regional connectivity and employees.

The Left Bloc (BE/Açores) has criticized the lack of transparency in the process, arguing that the names of the interested companies and consortia should be disclosed to the public, given that the airline is 100% state-owned. The party noted that other ongoing privatization processes, such as TAP, have disclosed the names of bidders at this stage.