Loftleidir Icelandic prequalifies for 49% of SATA lnternacional

Icelandair Group company Loftleidir Icelandic is in the running to acquire 49% of Portuguese carrier SATA Internacional. Earlier this year, aviation firm SATA Group announced plans to divest 49% of its mid- and long-haul arm, SATA Internacional, for a minimum of E3.7m (US$4.5m). “The only pre-qualified buyer who submitted a statement of interest is Loftleidir Icelandic,” a SATA spokesperson confirmed. To qualify, Loftleidir Icelandic had to demonstrate that it has the financial capacity and management experience to be a SATA Internacional shareholder and hold a clean corporate record. Bidders will be asked to produce a strategic plan for the airline, maintaining SATA lnternacional’s Portuguese, European and US presence, and growing the airline into new markets. <br/>