Loftleidir-Icelandic granted extension to present offer for Azores Airlines

Loftleidir-Icelandic was granted an additional 26 days to present a binding offer for the purchase a 49% stake in Azores Airlines, its second such extension after missing the latest deadline in the process.

Portugal's SATA group granted the extension as Loftleidir-Icelandic needs to conduct a more thorough analysis of Azores Airlines.

According to SATA, any future shareholders must maintain the fleet renewal plan of Azores Airlines, beginning with the A321neo. Additionally, the candidate must fulfill minimum regular air operations and public service obligation routes, as well as maintain the Azores Airlines brand and the autonomy of the operator.