Ponta Delgada, Portugal, July 14, 2026 (Lusa) - SATA announced on Tuesday that the deadline for submitting non-binding bids for the privatisation of at least 75% of the airline Azores Airlines is 21 September 2026.
“SATA Holding announces that the deadline for the submission of non-binding bids as part of the process to sell at least 75% of the share capital of SATA Internacional – Azores Airlines has been set for 21 September 2026,” the Azorean aviation group stated.
As set out in the tender specifications for the sale of the company, the aviation group emphasises that “interested parties who demonstrate that they meet the eligibility requirements will be invited by SATA Holding to submit a non-binding bid”.
“Interested parties must submit the Suitability and Compliance Form (FIC), the declaration of financial capacity and the declaration of genuine interest no later than 15 days before the expiry of the aforementioned deadline, that is, by 6 September 2026,” the publication states.
The tender specifications for the privatisation of SATA Internacional/Azores Airlines propose the sale of at least 75% of the company and guarantee the preservation of jobs and the avoidance of collective redundancies for 30 months, as Lusa revealed on 21 May.
According to the restructuring plan approved by the European Commission, the tender specifications set out a “private negotiation” model for the airline’s privatisation, which the parties must complete by the end of the year.
The tender specifications set out an initial phase for the pre-qualification of interested parties, a second phase for the submission of non-binding bids, and a third phase for the submission of binding bids, whilst also providing for a “potential final negotiation phase”.
The criteria for selecting bids include the price offered for the purchase of the shares, a “commitment to contribute to strengthening the company’s economic and financial capacity”, the “absence of legal or economic constraints”, they say that they will ensure compliance with labour commitments and the promotion of “shareholder stability” through the “implementation of a governance model that takes into account the specific nature” of Azores Airlines.
The sale of at least 75% of the company marks a change from the previous tender, which provided for a minimum sale of 51% and a maximum of 85%; that process concluded on 6 March without privatisation, after the selection panel and SATA’s management considered that the bid from the Atlantic Connect Group, the only one acknowledged, presented “unacceptable risks”.
RPYP/ADB // ADB.
Lusa
