The Canary airline Binter has formalized its candidacy to take over Azores Airlines in the new bidding for the Portuguese company. SATA Holding confirmed that it has received eight expressions of interest to acquire at least 75% of the shares, ratifying the island firm's interest in the operation.
For the acquisition to prosper, Binter demands that the Azorean company adapt to its business model —based on inter-island connectivity and routes with the mainland and islands— and that the numbers add up, especially considering that Azores Airlines does not currently generate clear operational synergies with its current structure.
The parent holding company is now evaluating the technical documentation of the applicants. Those who pass this preliminary phase will have until September 21 to submit a non-binding offer, a step prior to the final proposals. The sale of this majority stake must be sealed before the end of 2026.
The bidding begins in a delicate financial scenario for Azores Airlines. The Portuguese firm closed the first half of 2026 with losses of 37.1 million euros, weighed down by 142 million in operating costs compared to revenues of 134.4 million. In that semester, it transported 701,000 passengers (7.7% less) in 5,037 operated flights (8.1% less).
This process represents the second attempt to privatize the airline, after the Portuguese government rejected Atlantic Connect Group's proposal last year —which offered 17 million for 85% of the company— considering that it did not guarantee the economic viability or the strategic interests of the archipelago.
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