“It is crucial to promptly ensure more transparency, increased scrutiny, and effective accountability for the SATA group through an independent and qualified audit by the Court of Auditors,” stated Socialist deputy Carlos Silva during the presentation of the initiative at the Legislative Assembly in Horta.
The PS party notes that the 2024 financial statements of the regional airline carrier have not yet been published. The Board of Directors of SATA has indicated that the company’s losses amount to about 83 million euros, which the socialists claim is “one of the worst ever.”
“It is unacceptable that, to date, the annual accounts for 2024 and those for the first quarter of 2025 have not been published, which constitutes a breach of the law and a total disrespect for this parliament’s oversight function,” warned Carlos Silva.
According to the Socialist deputy, SATA’s accumulated losses between 2021 and 2024 have reached 213 million euros, which demonstrates “the deterioration of the financial situation” of the airline and also attests to “the complete failure of the restructuring plan” of the carrier, which is undergoing privatization.
The Regional Secretary for Finance, Planning, and Public Administration, Duarte Freitas, admitted this week in plenary that if the privatization of Azores Air Lines does not succeed, the company will have to file for insolvency, which could cost more than 300 million euros.
“The insolvency not only leaves us with the existing liabilities but could also mean an additional 300 million euros in compensation payments to workers,” warned the official during an urgent debate on the future of the Azorean airline, promoted by Chega.
The Secretary for Parliamentary Affairs, Paulo Estêvão, said today that the regional coalition government (PSD, CDS-PP, and PPM) does not oppose any audit to SATA: “Conduct any audits you want! Those who have nothing to hide, have nothing to fear!”
The audit request was approved by almost all parties with parliamentary representation in the Azores, except for the sole deputy from the Liberal Initiative, Nuno Barata, who voted against it, believing that the other parties are using the airline as “political leverage.”
According to the regional government, negotiations for the conclusion of the sale of 76% of Azores Air Lines’ capital “are proceeding at a good pace,” both with the Newtor/MS Aviation consortium and with the European Commission itself.
