Ponta Delgada, Portugal, Sept. 16, 2026 (Lusa) - SATA has completed its review of the documentation relating to the privatisation process of Azores Airlines and has decided to invite six entities to submit non-binding bids, it was announced on Wednesday.
The deadline for the submission of non-binding bids for the privatisation of at least 75% of Azores Airlines has been set for 21 September.
In a statement, the Azorean airline stated that «SATA Holding has completed its review of the documentation submitted as part of the privatisation process for Azores Airlines and has verified that six entities meet the participation requirements set out in the tender specifications».
Following this review, «SATA Holding has decided to invite the six entities to submit non-binding bids», the aviation group reports.
Furthermore, it notes that SATA Holding received eight expressions of interest for the privatisation process, and the documentation submitted has been analysed to verify compliance with the participation requirements set out in the tender specifications.
The tender specifications for the privatisation of SATA Internacional/Azores Airlines propose the sale of at least 75% of the company and prohibit job cuts and collective redundancies for 30 months.
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 must be completed 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 binding bids, whilst also providing for the possibility of 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», a guarantee of 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 was concluded on 6 March without privatisation, after the selection panel and SATA's management considered that the bid from Atlantic Connect Group – the only one admitted – presented «unacceptable risks».
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