The president of the administration of SATA, Rui Coutinho, resigned from his position, the Government of the Azores revealed this Tuesday, 2nd, to Lusa, which will appoint the financial director, Tiago Santos, to lead the aviation group.
“The Regional Government of the Azores informs that the chairman of the board of directors of SATA Holding, Rui Coutinho, submitted his resignation, with effect from January 1, 2026, citing professional reasons”, said the Government of the Azores, in a written response sent to the Lusa agency.
The Azores executive (PSD/CDS-PP/PPM) adds that the appointment of the group’s current financial director Tiago Santos to the presidency of the board of directors aims to “ensure the necessary continuity and stability” in the group.
“The appointment of Tiago Santos, as a member of the current executive body and in-depth knowledge of the Group’s financial, operational and strategic mechanisms, aims to ensure the rigorous pursuit of the measures provided for in the Restructuring Plan, namely the sale of Azores Airlines and Handling”, explains the Azorean government.
Rui Coutinho had been appointed president of SATA in June 2024 after the departure of Teresa Gonçalves, who resigned on April 9 last year and who had replaced Luis Rodrigues in April 2023.
Tiago Santos, who joined the administration of SATA in July 2024, is an economist, was a member of the board of directors and financial director of Metropolitano de Lisboa, Carris, Transtejo and Soflusa between 2015 and 2016, roles he also held at the company Oitante, between 2016 and 2018.
He was also an advisor to the Minister of Health Paulo Macedo (2011 to 2015) and the Secretary of State for Treasury and Finance (2010 and 2011) and administrator of the consultancy COBA.
The change in administration at SATA comes at a time when the privatization process of Azores Airlines, the group’s company responsible for connections between the Azores and abroad, is underway.
On November 24, the Atlantic Connect Group consortium presented a proposal of 17 million euros for 85% of the share capital of Azores Airlines, with the Government of the Azores asking the European Commission to extend the deadline for the company’s privatization until December 31, 2026.
The proposal is currently being analyzed by the competition jury, led by economist and university professor Augusto Mateus.
In June 2022, the European Commission approved Portuguese state aid to support the airline’s restructuring of 453.25 million euros in loans and state guarantees, providing for measures such as a reorganization of the structure and the divestment of a controlling stake (51%).