SATA Holding has started the legally required consultation period with workers' representatives by presenting the spin-off project, which involves creating a new company: Over the coming weeks, this process will take place in strict compliance with applicable legislation. Meetings will be held with the representative bodies during which all necessary clarifications will be provided, and relevant input will be collected to ensure transparency throughout the process.
The spin-off and creation of SATA Handling are expected to occur in March once the consultation period concludes.
After the spin-off process concludes, planning for the privatization of SATA Handling will begin. This process will also involve sharing information and engaging in continuous dialogue with workers.
Preparation for the spin-off of the handling business began around a year ago through extensive collaboration with the Group's leadership, particularly in the operational ground handling areas. This collaboration provided a comprehensive understanding of the functions performed and enabled the efficient allocation of resources to establish a new company that can meet market needs, operate with a solid and effective structure, and comply with the restructuring plan approved by the European Commission. This analysis was essential for preparing the project's documentation and ensuring organized, structured progress.
The SATA Holding Board of Directors has taken note of the concerns expressed by the sector’s representative unions regarding transparency, job security, acquired rights, and collective bargaining. The Board reaffirms its commitment to structured social dialogue and will ensure that information is shared throughout all stages of the process.
As with the privatization of Azores Airlines, the Board emphasizes that this process is an integral part of the restructuring plan agreed upon with the European Commission in 2022. Its implementation aligns with the established timeline and obligations.