SATA Holding invited five candidates who submitted non-binding proposals to present binding proposals for the privatization of Azores Airlines by December 9, with the candidates’ names to be disclosed in a later phase.

SATA Holding had earlier stated it received five non-binding proposals and would analyze them according to the process terms.

SATA Holding had announced on September 22 that five non-binding proposals had been received for the privatization of SATA Internacional/Azores Airlines.

The privatization caderno de encargos envisions selling at least 75% of the company and prohibits layoffs or collective dismissals for 30 months.

Per the European Commission-approved restructuring plan, the privatization follows a specific negotiation model and must conclude by year-end, including a potential final negotiation phase.

The process for SATA International/Azores Airlines involves multiple phases—initial qualification, non-binding proposals, binding proposals, and possibly a final negotiation phase—with completion targeted by year-end as per the EU-approved plan.

The privatization is expected to be completed by the end of the year in line with commitments to the European Commission.

SATA emphasizes transparency and equal access, strictly following the caderno de encargos rules shared with all bidders.

Tiago Santos says the December 9 disclosure will occur only after the competitive landscape is stabilized and bidders are committed to the acquisition.

Following the analysis of non-binding proposals, binding proposals will be evaluated under the process brief, and candidates advancing to the final phase will be announced.

SATA Holding will disclose the names of the candidates advancing to the final stage when appropriate.

Binding proposals will be assessed on purchase price, financial strength, absence of legal/economic constraints, protection of labor commitments, and governance stability tailored to Azores Airlines.