SATA Holding has initiated the legally required consultation period with the representative bodies of the workers assigned to handling activities by sharing the spin-off project, which foresees the creation of a new company: SATA Handling. This process will take place over the coming weeks in strict compliance with applicable legislation and will include meetings with the representative bodies, during which all necessary clarifications will be provided and relevant input collected to ensure full transparency at every stage.
Once the consultation period with workers has concluded, the formalisation of the spin-off and the creation of SATA Handling are expected to occur in March.
Subsequently, after the spin-off process has concluded, planning for the privatisation of SATA Handling will begin. This process will also be conducted with shared information and continuous dialogue with workers.
Preparation for the handling business spin-off began around a year ago through extensive collaboration with the Group’s leadership, particularly the operational ground handling areas. This work has provided a comprehensive understanding of the functions performed and enabled the efficient allocation of resources for establishing a new company that can meet market needs and operate with a solid and effective structure, while complying with the restructuring plan approved by the European Commission. This analysis was essential for preparing the documentation required for the spin-off project's approval and ensuring the work progresses in an organised and structured manner.
The SATA Holding Board of Directors carefully notes the concerns expressed by the sector’s representative unions regarding transparency of the process, job security, acquired rights and collective bargaining. The Board reaffirms its commitment to structured social dialogue and will ensure information is shared throughout all stages of the process.
The Board also emphasises that, like the privatisation of Azores Airlines, this process forms an integral part of the restructuring plan agreed with the European Commission in 2022, and its implementation aligns withthe established timeline and obligations.