The consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) improved significantly from a negative 6.5 million euros at the end of June 2024 to 1.86 million euros in June 2025, reflecting a substantial operational recovery.
Despite positive developments, net results were affected by the worsening of exchange rate differences, which shifted from a gain of 858,000 euros in 2024 to a loss of 6.8 million this year, resulting in a negative impact of approximately 7.7 million euros, according to an official source from the group.
The group reported a positive performance across all companies in the first half of 2025.
Azores Airlines, formerly SATA International and responsible for routes between the Azores, the mainland, Madeira, Europe, and North America, improved its EBITDA from a negative 4.9 million euros to a positive 300,000 euros. However, the semester closed with a cumulative net loss of 41.1 million euros, compared to 37.8 million euros in the first half of 2024.
SATA Air Açores, which provides inter-island connections in the archipelago, saw its EBITDA improve from a negative 1.2 million euros to a positive 1.3 million euros. “The cumulative net result improved by 5.6 million euros, standing at -3.4 million euros versus -9 million euros in the first half of 2024,” stated the group’s report.
“The performance in the first half of 2025 reflects a continuous collective effort and demonstrates that through concrete sustainability measures, we can counteract the degradation of results,” said CEO Rui Coutinho as quoted in the statement.
The SATA Group, which includes two airlines (SATA Air Açores and Azores Airlines), carried 1.2 million passengers in the first half, marking an increase of 3% compared to 2024 and conducted 376 more flights than in the same period of the previous year.
The group also encompasses SATA Gestão de Aeródromos, managing several regional airports.
This performance comes amid ongoing privatization proceedings for Azores Airlines. On September 12, the regional secretary of Finance, Duarte Freitas, stated that if no agreement is reached between the Newtour/MS Aviation consortium and the unions by the end of the month, the Azorean Government will proceed with a private negotiation.
The official emphasized that without the sale of 51% of Azores Airlines, as outlined in the restructuring plan approved by the European Commission, the alternative could be the closure of the company in 2026.
