The government has approved the establishment of a new commercial company within the SATA Group, following a simple split from SATA Air Açores. This move will allocate the economic unit responsible for ‘handling’ services to the new entity, as stated by José Manuel Bolieiro.
The entire share capital of this new company will be fully owned by SATA Holding, S.A.
The government council convened on Tuesday and today, on Flores and Corvo, as part of annual statutory visits to the archipelago’s islands.
This corporate reorganization of the SATA Group is in line with the European Commission’s decision of June 7, 2022, which authorized the granting of public aid for the restructuring of SATA Air Açores – Sociedade Açoriana de Transportes Aéreos, S.A. and its then subsidiaries, Bolieiro added.
Continuing to meet the established objectives, he mentioned that the group’s next step is to create a new entity, resulting from the separation of the economic unit responsible for ground handling services in the region, currently a part of SATA Air Açores.
SATA Holding S.A. has submitted a request for authorization to the Regional Government to execute the separation of the economic unit responsible for ‘handling’ services from SATA Air Açores, which handles inter-island connections, and to subsequently create a new entity within the SATA Group through a simple split, the executive also stated.
According to the statement, the request for authorization was accompanied by an economic-financial study and complemented by a legal study demonstrating the feasibility and interest of the operation.
Thus, as per the European Commission’s decision, it is up to the region to ensure that the SATA Group implements the measures included in the restructuring plan.
The Azorean executive also approved the management strategy for the Azores Marine Protected Areas Network (RAMPA).
Bolieiro stated that the initiative defines the planning and management guidelines necessary for the preparation and approval of the respective plans.
The resolution was also approved for the public company Portos dos Açores to undertake the necessary steps for the divestment of its stakes in stevedore companies OPERTRI, OPERPDL, and OPERTERCEIRA.
The region has indirectly held 20% of these companies’ equity through Portos dos Açores since 1995, and only in the Azores is the circumstance seen where the port authority holds stakes in stevedore companies it regulates, the social-democrat clarified.
The government stated that the reform aims to promote transparency in operations, as each of these companies operates without the need for special intervention from Portos dos Açores.
In the meetings held on Flores and Corvo, the coalition government (PSD/CDS-PP/PPM) also decided to authorize a program contract between the region and Portos dos Açores to regulate the promotion of acquiring two electric mobility tugboats, with a total investment of 33 million euros – 15 million per tugboat – plus three million in investment for charging systems for the ports of Ponta Delgada and Praia da Vitória.
The Regional Regulatory Decree, which allows for the adaptation of the legal regime applicable to Portuguese firefighters in the mainland, was also approved.
