The Azores Regional Government has announced that Rui Coutinho, president of the board of directors of SATA Holding, has submitted his resignation effective January 1, 2026, citing professional reasons.
The Azorean executive (PSD/CDS-PP/PPM) stated that the appointment of the group’s current financial director, Tiago Santos, as president of the board aims to ensure necessary continuity and stability within the group.
“The appointment of Tiago Santos, a member of the current executive body and well-versed in the financial, operational, and strategic mechanisms of the Group, is intended to rigorously pursue the measures outlined in the Restructuring Plan, including the divestment of Azores Airlines and Handling,” justified the Azorean government.
Rui Coutinho was appointed president of SATA in June 2024 following the resignation of Teresa Gonçalves on April 9 of the previous year, who had replaced Luis Rodrigues in April 2023.
Tiago Santos joined SATA’s administration in July 2024. He is an economist and previously served as a board member and CFO of Metropolitano de Lisboa, Carris, Transtejo, and Soflusa between 2015 and 2016, a role he also held at Oitante between 2016 and 2018.
He was also an advisor to the Minister of Health Paulo Macedo (2011 to 2015) and the Secretary of State for the Treasury and Finance (2010 and 2011) and has been an administrator at the consulting firm COBA.
The administrative change at SATA occurs amid the ongoing privatization process of Azores Airlines, the group company responsible for connections between the Azores and abroad.
The Atlantic Connect Group consortium submitted a proposal on November 24 of 17 million euros for 85% of Azores Airlines’ share capital. The Azores Government has requested the European Commission to extend the privatization deadline to December 31, 2026.
The proposal is currently being analyzed by the tender jury, chaired by economist and university professor Augusto Mateus.
In June 2022, the European Commission approved Portuguese state aid to support the restructuring of the airline, amounting to 453.25 million euros in loans and state guarantees, which includes measures such as a structural reorganization and the divestment of a controlling stake (51%).
[Updated at 08:29]
