Azores airline’s €53m loss prompts urgent debate

By TPN/Lusa, in Business · 10-05-2019 09:00:00 · 0 Comments
Azores airline’s €53m loss prompts urgent debate

Heavy financial losses at the SATA group, which operates the regional airline of Portugal’s Azores archipelago, have prompted the regional assembly to schedule an urgent debate on its situation.

SATA had a 2018 loss of €53.3 million euros, some €12.3 million larger than in 2017.

The debate was proposed on Monday by the People’s Party (CDS-PP) group in the assembly, with theaim of clarifying the reasons behind the losses – the largest in the airline’s history – as well as to determine who might be responsible.

The chairman of the SATA board, António Teixeira, has already outlined in statements to journalists that the larger loss was due to an increase of operating costs, namely higher fuel prices, personnel expenditure and the cost of renting aircraft from other airlines.


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