newstodate.aero
Jul 31, 2018 (newstodate): Responding to an EOI issued by the Portuguese Grupo SATA, Loftleidir, member of the Icelandair Group, emerged as the sole qualified potential buyer for a 49 percent stake in Azores Airlines and was thus pre-qualified to participate in the tender for ownership in the Portuguese carrier.
Loftleidir has now been granted a second additional extension to present a binding offer due to needs for more details in the performance of Azores Airlines.
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.
As part of the conditions in the current tender, Loftleidir must maintain the fleet renewal plan of Azores Airlines, including introduction of A321neo aircraft.
Loftleidir must also guarantee minimum regular air operations and public service obligation routes, as well as maintain the Azores Airlines brand and the autonomy of the operator.
In another corner of the sea, the management contract since August 2017 between the Loftleidir and Cabo Verde Airlines, due to expire in August 2018, will not be extended.
Instead, the government plans to complete the privatization process of the airline before the end of 2018, Cape Verde's Minister of Tourism and Transport has told local media.
Loftleidir has now been granted a second additional extension to present a binding offer due to needs for more details in the performance of Azores Airlines.
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.
As part of the conditions in the current tender, Loftleidir must maintain the fleet renewal plan of Azores Airlines, including introduction of A321neo aircraft.
Loftleidir must also guarantee minimum regular air operations and public service obligation routes, as well as maintain the Azores Airlines brand and the autonomy of the operator.
In another corner of the sea, the management contract since August 2017 between the Loftleidir and Cabo Verde Airlines, due to expire in August 2018, will not be extended.
Instead, the government plans to complete the privatization process of the airline before the end of 2018, Cape Verde's Minister of Tourism and Transport has told local media.