According to the executive president of the SATA Group, Luís Rodrigues, SATA Airlines will be sold before the end of the month, following his living the company to become the executive chairman of TAP Air Portugal
In an interview with RTP Açores, today, Rodrigues did not advance further details about the move to privatize SATA Airlines, but stated the company closed 2022 with more than double the profits of the previous year.
He added that he is confident in the company’s new president, Teresa Gonçalves, who was promoted to replace him as the new CEO of SATA Group.
Commenting on his decision to leave SATA Group, Rodrigues stated that the TAP proposal was “irresistible.” He believes that, under the management of Teresa Gonçalves his departure will not cause problems for the Regional Government of the Azores or TAP Air Portugal.
“What we maintain today is a competitive relationship, that is, we compete in some things, we cooperate in others. We understand perfectly in which area we must compete, in which area we must cooperate, and we all win with that,” he stated.
In January, the President of Regional Government, José Bolieiro, revealed the intention to privatize more than 51% up to 85% of the Azorean company and that the deal would be closed before October, 2023.
Teresa Gonçalves joined SATA Group in January 2020. She holds degrees in economics and management for various universities, namely the Catholic University, Nova University of Lisbon, University of Lisbon Law School and the London of School of Economics.
The recent breaking news of SATA Airlines being privatized and raising its airfares raised its airfares to a hefty 200% next summer for its operations in North America has caused protests in the United States and Canada, where many residents have roots in the Azores.
Azores Airlines announcing that it will charter an Airbus A330 from Spain-based Plus Ultra Líneas Aéreas to operate flights between the Azores, the United States, and Canada during the summer season also raised concerns.
The Azores based air carrier has been the main gateway connecting the Azores with its diaspora in the United States and Canada, namely between the Azores and Boston, New York, and Oakland (United States), and Toronto (Canada).