The consortium formed by Tiago Raiano, Carlos Tavares, Paulo Pereira and Nuno Pereira — now presented as Atlantic Connect Group — delivered on the last working day granted by the competition jury the binding proposal to acquire 85% of the former SATA Internacional/Azores Airlines, after agreements reached with the pilots’ and cabin crew’s unions.
The group states that the offer “considers the company’s current financial situation and incorporates the strategic vision of the businesspeople”, pointing to an orientation that aims at the company’s sustainability and the consolidation of its operation as a strategic asset for Portugal and the Autonomous Region of the Azores.
With the delivery of the documentation, the privatization competition jury, chaired by Augusto Mateus, begins the assessment and preparation of the final report — a procedure that is not binding.
“The Atlantic Connect Group is available to the Jury to provide any clarifications that may be necessary, maintaining, at this stage, the appropriate public reserve for a process that is intended to be rigorous, impartial and speedy”, states the consortium’s note.
The proposal comes in a context with a deadline set by the European Commission: Brussels gave the Regional Government until December 31, 2025 to complete the privatization of Azores Airlines, in order to allow a capital injection into SATA Air Açores and preserve the inter-island connection.
The formalization of the offer coincides with Ryanair’s announcement that it will cease flights to the Autonomous Region from March next year, a fact that enhances the strategic importance of guaranteeing the continuity and operational capacity of a national operator.