On July 2, the Council of the Government approved a resolution with the aim of increasing SATA Air Açores' share capital by 27 million Euros, through the subscription of 5,400,000 new shares.
This capital increase maintains the Autonomous Region of the Azores as exclusive shareholder of SATA Air Açores.
The decision aims to improve the company's liquidity and ensure its economic and financial strength, which will allow the company to fully accomplish its corporate purpose of air transport services.
The increase of SATA Air Açores' capital falls within the comprehensive restructuring of the public business sector in the Azores that has been outlined by the Government of the Azores. It is primarily intended to reinforce the economic and financial strength of the companies owned by the Region.