newstodate.aero

Aug 03, 2023 (newstodate): For obvious reasons, Iceland's Loftleidir, member of the Icelandair Group, seems to have lost all appetite for South Atlantic aviation adventures.
   In 2018, and after taking a bite of the loss-making TACV Cabo Verde Airlines, the Icelandair Group was 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, emerged as the sole qualified potential buyer for a 49 percent stake in Azores Airlines and was thus pre-qualified to participate in a coming tender for ownership in the Portuguese carrier.
   However, the tender process for privatization of Azores Airlines was later annulled with immediate effect; the Government of the Azores claimed that "serious damage" had been caused by a release of documents indicating that there was no formal proposal by Loftleidir, member of the Icelandair Group.  
   This was, however, contested by another source in the Transport Ministry, claiming that the Icelandair Group did indeed place a regular bid for the 49 percent of the shares in the Azores Airlines.
   Now a new tender process has been completed - with two contenders emerging to have placed identical bids, forcing the process to be suspended once again.....
   And neither of these contenders had any connection to Loftleidir that is also now fully out of its Cabo Verde-adventure, albeit only after deep legal disputes and rifts.