Finance and jobs at the centre of Azores Airlines investor selection

SATA Holding has received five non-binding proposals for the sale of at least 75% of Azores Airlines. The submission deadline was 21 September 2026, and the company announced the result the following day. No buyer has been chosen; the proposals will now be assessed.

The process began with eight expressions of interest. After checking the documents and participation requirements, SATA invited six parties to submit preliminary proposals. It will select from the submissions received which parties can proceed to the binding-offer stage.

The assessment covers more than the price offered for the shares. The tender terms also consider each bidder's ability to strengthen the airline's finances, any conditions that could affect the transaction, commitments to employees and the stability of the future ownership structure.

The sale terms prohibit the elimination of jobs and collective redundancies for 30 months. The privatisation forms part of a restructuring plan approved by the European Commission and is scheduled to be completed by the end of 2026. A final negotiation stage may follow the binding offers.

This is another attempt to find an investor for the Azorean airline. The previous tender ended in March without a sale after SATA judged the risks of the sole accepted bid unacceptable. For the Azores, the next decision matters to employees and to the airline's ability to maintain a stable role in the region's air connections.