airBaltic, the Latvian national airline, has officially launched a new direct route between Tallinn and Madeira, Portugal. The new connection will operate once weekly on Sundays through March 28, 2026, offering Estonian travelers direct access to one of Europe’s most scenic island destinations for the first time.
airBaltic, Latvia’s national carrier, has launched a new direct service connecting Riga (RIX) with Faro (FAO) in southern Portugal, expanding its footprint in one of Europe’s most popular leisure regions. The route, operated once weekly on Saturdays, marks airBaltic’s fourth Portuguese destination after Lisbon, Porto, and Madeira, which will be added later in 2025. The inaugural flight has a scheduled block time…
The Portuguese government has formally set the valuation for the partial privatization of TAP Air Portugal (TP), placing a $817.7 million price on a 44.9% minority stake in the national carrier. In addition, 5% of the airline’s shares will be reserved for employees, while the state will retain majority ownership to safeguard strategic control.
Embraer, a global leader in aerospace and defense, is advancing its strategic footprint in Europe by establishing long-term industrial cooperation with Lithuania, following the country’s selection of the C-390 Millennium military transport aircraft in June 2025. The initiative strengthens Lithuania’s defense capabilities while contributing to its broader industrial and technological development goals.
Azores Airlines, the regional flag carrier of Portugal’s Azores archipelago, may be forced to declare insolvency if its ongoing privatization process does not succeed, according to Duarte Freitas, a senior official from the Regional Government of the Azores. The financial exposure in such a case could exceed US$350 million, placing substantial pressure on regional and national stakeholders.
TAP SGPS, the Portuguese airline group, is facing potential legal enforcement action after failing to repay $177 million owed to Azul Linhas Aéreas Brasileiras (Brazil). The debt relates to bonds issued in 2016 that were subscribed by Azul as part of a strategic investment agreement. TAP’s failure to meet the repayment deadline has now shifted control of the matter to the common representative of…
Crestone, a U.S.-based aviation leasing company, has expanded its fleet portfolio with the purchase of three narrowbody aircraft. The acquisition includes two Airbus A319s currently leased to American Airlines and one Airbus A320 on lease to TAP Portugal.
Grupo SATA (Portugal) has disclosed its 2024 financial results, highlighting significant challenges faced by both Azores Airlines and SATA Air Acores. Azores Airlines ended the year with a net loss of $81.1 million on revenues of $382.9 million, while SATA Air Acores reported a negative result of $13.2 million with revenues around $68.3 million.
Hi Fly (Portugal) will wet lease an A330-200 aircraft, serial 935, to Azul (Brazil) to operate flights from Belo Horizonte. This leasing agreement provides Azul with additional capacity during peak travel periods while offering passengers enhanced long-haul service capabilities. In parallel, a B767-300ER on wet lease from euroAtlantic Airways (Portugal) will be reassigned to cover flights to Madrid.
The government of Portugal has reiterated that the ongoing privatization of TAP Air Portugal is being driven primarily by strategic national interests rather than financial motivations. Officials emphasized that TAP’s role in the country’s connectivity, tourism, and international presence outweighs its balance sheet when evaluating potential buyers.
