An Icelandic company proposes to acquire 49% of SATA Azores

The Icelandic carrier Loftleiðir Icelandic submitted a proposal to acquire 49% of the share capital of SATA Internacional – Azores Airlines, SA, after being shortlisted in the first phase of the process, Sata Air Azores "

"The proposal will now be the subject of careful analysis by SATA Air Azores," said the company in a brief statement

a month ago, June 26, the Icelandic airline Loftleiðir days to prepare and submit a binding proposal for the purchase of 49% of SATA Internacional – Azores Airlines

Erlendur Svavarsson, Vice President of Icelandair Loftleiðir, of the Islandair Group, told Lusa on April 23., had declared that the operator had not yet decided to enter the second phase of the process of alienation of the Azores air carrier.

The SATA group announced on April 17 that Loftl Icelandic eiðir was shortlisted for the second phase of the sale of 49% stake in Azores Airlines

According to the group, the only potential buyer who submitted a statement of interest in Azores Airlines was prequalified.

Under the terms and conditions of the capital transfer of the Azorean operator, the future shareholder of Azores Airlines will have to "comply" with the maintenance of the fleet renewal plan initiated with A321 NEO. and the promotion of "respect for minimum regular air operations", which includes links between the mainland and the Azores, including the liberalized routes between Ponta Delgada and Lisbon, Ponta Delgada and Porto, Terceira and Lisbon, and Terceira and Porto.

This interested party is also to provide the public service bond between Lisbon and Horta, Lisbon and Pico, Lisbon and Santa Maria, Pon to Delgada and Funchal, as well as the Ponta Delgada link to Frankfurt, the along the roads of Terceira and Ponta Delgada in Boston and Oakland in the United States, and Toronto, Canada.

The buyer must also maintain the identity, the autonomy of the operator, the name of the company and the Azores Airlines brand, among other elements of the company. identification, as well as a contribution to local employability.

The share capital of the SATA group is owned by a single shareholder, The news that the Icelandic Loftleiðir has submitted a proposal for the acquisition of 49% of SATA Internacional – Azores Airlines, came a day after the unveiling of the staff of the National Union of Civil Aviation (SNPVAC) a strike that was scheduled for this Thursday.

"The strike was rejected by the crew who met at the general meeting, it is a vote of confidence on the board of directors and the new chairman. (Azores Airlines), who will now take possession of the property and hopes to be able to solve all the problems that are still outstanding, but which have been suspended for the moment, but not forgotten, "said Cláudia Macedo at the time. Lusa agency,