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.
TAP, the national airline of Portugal, reported a net loss of $122.6 million for the first quarter of 2025, underlining persistent financial challenges despite an improving global aviation environment. The carrier’s operating revenue fell 4.5% year-over-year, totaling $933.6 million, suggesting a drop in travel demand or yield compression on its primary routes.
SATA Air Azores, the regional carrier based in Portugal, has confirmed that it will wet lease a De Havilland Q400 aircraft beginning 01 June 2025, for the duration of the summer travel season. With this addition, the airline’s operational fleet will expand to eight aircraft.
TAP SGPS, the state-owned holding company of Portugal’s national airline TAP Air Portugal, has officially defaulted on a bond loan agreement with Azul Linhas Aéreas Brasileiras, the Brazilian airline that has long held a financial stake in TAP. The default was formally recognized during a meeting of debenture holders, convened at the request of Azul and its legal representatives,…
The Civil Aviation Pilots Union of Portugal has publicly condemned the operational state of SATA Azores Airlines, stating that the carrier is experiencing serious and recurring failures that pose direct risks to operational safety, result in misuse of public funds, and erode the trust of workers and passengers.
The government of Mozambique has confirmed the payment of US$3 million to euroAtlantic Airways (Portugal) as part of the termination settlement for a contract involving LAM – Linhas Aéreas de Moçambique, the state-owned national carrier. While the amount satisfies Mozambique’s obligations, it remains below the level of compensation originally demanded by euroAtlantic.
TAP, Portugal’s flag carrier, has announced the completion of a critical restructuring milestone by acquiring 100% of the shares of its holding company, TAP SGPS. This acquisition marks a significant step in the airline’s plan to restructure and prepare for reprivatization.
The Portuguese government has officially requested ANA – Aeroportos de Portugal, the country’s airport operator, to submit a proposal for the construction and operation of a new international airport in the Lisbon district. The proposed airport, to be located in Alcochete, is expected to cost up to US$9.2 billion and commence operations by 2034.
