SATA to eliminate Azores Airlines debt before sale
4 Articles
4 Articles
Government of José Manuel Bolieiro approved a guarantee of 55 million euros to finance the operation and treasury of SATA. Value that adds to the guarantee for a loan of 75 million euros that the airline has exhausted in 2025.
This measure provides support to the company's treasury and contributes to compliance with the measures provided for in the restructuring plan of the Azores air carrier
The Government of the Azores has approved the granting of a 55 million guarantee to SATA and the bill of lading for the total privatisation of handing, as part of the group's restructuring plan, has been announced today.
SATA to eliminate Azores Airlines debt before sale
The regional government of the Azores, owner of Grupo SATA, is looking to convert EUR160 million euros (USD182 million) into equity in future Azores Airlines (S4, Ponta Delgada) owner SATA Internacional to allow improved conditions for potential investors in the airline, Bloomberg reported. “We want to give investors a clean asset, with full management control,” the airline's chief executive Tiago Santos said. His comments come after SATA was fo…
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