SATA President to lead future holding

 In Aviation, News

The Government of the Azores has announced that it will appoint the current president of the airline SATA, Luís Rodrigues as the future president of the airline’s holding.

José Manuel Bolieiro justified the decision on the grounds of the “importance of stability” and the “competence” of the airline boss.
“In my capacity as president of the Government, motivated by the need for stability, I have appointed Luís Rodrigues, current president of the board of directors as the future president of the holding”, he said.
The president of the Regional Government of the Azores (PSD/CDS-PP/PPM) was speaking at the opening session of the 47th Portuguese National Congress of Travel and Tourism Agencies (APAV) which took place in Ponta Delgado, on the island of São Miguel at which 700 congress delegates attended.
In June, the European Commission approved Portuguese State financial support for the restricting of the Azores airline company SATA with State-backed loans of €453.25 million in return for a structural reorganisation of the company.
The financial injection means the divestment of a 51% controlling share in Azores Airlines, the splitting of the ground assistance business and the structural reorganisation of SATA with the creation of a holding that will replace SATA Air Açores in the control of its subsidiary operations.
A maximum limit to its fleet of aircraft until the end of its restructuring plan and the prohibition until this period to make any aircraft purchases/acquisitions.
At the opening of the APAV national congress, the José Manuel Bolieiro stressed his confidence in Luís Rodrigues to manage the holding and his contribution in restructuring SATA while making a commitment to “not politically interfere in the airline’s management”.