Another one like TAP.
The companies of the SATA group, SATA Air Açores and Azores Airlines, registered a negative result of 30 million euros in the first quarter of 2023, according to data consulted today by the Lusa agency.
According to the report on the financial statements for the 1st quarter of 2023 for companies in the regional public sector, there was a negative 23 million euros at SATA Internacional and 7 million at SATA Air Açores.
Azores Airlines liabilities grew by 108.7 million euros in the first quarter of the year, compared to the same period in 2022.
The operator, which ensures connections outside the Azores, presented a liability of 539,302,359 euros in the first quarter of 2022, to grow to 648,056,585 euros in the same period of 2023.
At SATA Air Açores, which provides inter-island connections in the region, liabilities decreased by 142.2 million euros from the first quarter of 2022 (475,993,071 euros) to the same period of 2023 (333,708,307 euros).
The SATA group is under a financial restructuring plan following the submission of a request to the European Commission.