newstodate.aero
Apr 19, 2018 (newstodate): The Icelandair Group may be heading for yet another Atlantic aviation venture, now targeting the Azores.
Responding to an EOI issued by the Portuguese Grupo SATA, Loftleidir, member of the Icelandair Group, has emerged as the sole qualified potential buyer for a 49 percent stake in Azores Airlines and is thus pre-qualified to participate in a coming tender for ownership in the Portuguese carrier.
Connecting the Azores with Europe and North America from its hub at Joao Paulo II International Airport, Azores Airlines operates a fleet comprising six Airbus aircraft - five Airbus A320 Family and one Airbus A330-200 aircraft.
Despite efforts to reduce debts through sales of aircraft and reductions in staff, Azores Airlines is still amassing a debts pile requiring the government to consider a privatization leading to an infusion of fresh capital and new management.
In another corner of the ocean, Loftleidir Icelandic in 2017 entered a management agreement with TACV Cabo Verde Airlines and the Government of Cabo Verde on the restructuring of the equally loss-making TACV Cabo Verde Airlines and positioning it as a key strategic asset to contribute to Cabo Verde's potential as a year-round tourist destination, and to develop Cabo Verde's position as a connecting hub with a CAT 1 airport linking four continents.
Responding to an EOI issued by the Portuguese Grupo SATA, Loftleidir, member of the Icelandair Group, has emerged as the sole qualified potential buyer for a 49 percent stake in Azores Airlines and is thus pre-qualified to participate in a coming tender for ownership in the Portuguese carrier.
Connecting the Azores with Europe and North America from its hub at Joao Paulo II International Airport, Azores Airlines operates a fleet comprising six Airbus aircraft - five Airbus A320 Family and one Airbus A330-200 aircraft.
Despite efforts to reduce debts through sales of aircraft and reductions in staff, Azores Airlines is still amassing a debts pile requiring the government to consider a privatization leading to an infusion of fresh capital and new management.
In another corner of the ocean, Loftleidir Icelandic in 2017 entered a management agreement with TACV Cabo Verde Airlines and the Government of Cabo Verde on the restructuring of the equally loss-making TACV Cabo Verde Airlines and positioning it as a key strategic asset to contribute to Cabo Verde's potential as a year-round tourist destination, and to develop Cabo Verde's position as a connecting hub with a CAT 1 airport linking four continents.