According to an official source from the group, SATA Açores had losses of "4.7 million euros". This result represents an improvement of 2.3 million euros compared to the same period in 2023, "mainly due to the better operating results and the reduction in financing costs as a result of the early settlement of the 60 million euro bond loan in September 2023", says the company in a statement.

A press release states that in the first quarter, the SATA Group's airlines, Sata Internacional - Azores Airlines (Azores Airlines) and SATA Air Açores -- Sociedade Açoriana de Transportes Aéreos (SATA Air Açores) "continued the trajectory of passenger growth and revenue, despite the first quarter always being more challenging for airlines, having reached 447 thousand passengers transported (+21% compared to the first quarter of 2023)".

The revenue of the two airlines reached 68.9 million euros, up 24% compared to the same period in 2023.

Costs also showed growth compared to the previous year, with a significant impact on irregularity costs and ACMIs (aircraft rentals) due to adverse weather conditions and constraints related to aircraft maintenance and breakdowns, they say.

Azores Airlines - in the process of privatization - transported 286 thousand passengers, up 29%, and achieved a total revenue of 47.1 million euros, which represents an increase of 31.5% compared to the same period, "despite the fact that, as a rule, the first quarter for airlines is the worst of the year (...), proving the trend of strong growth in the company's activity, based on the increase in capacity on 'core' routes, more connections and the introduction of new routes", it reads.

The number of flights operated by Azores Airlines amounted to 2,095, representing an increase of 18% and 65% compared to 2023 and 2019, respectively.

The operating result before interest, taxes, depreciation and amortization (EBITDA) "evolved positively compared to 2023 and 2022, despite being negative by 8.5 million euros, with the significant increase in irregularity costs (mainly due to adverse weather conditions, but also due to the extremely restrictive Company Agreements) and ACMI contributing to this result".

The company states that excluding the increase in these costs compared to 2023 (1.5 million euros), EBITDA would have amounted to seven million euros negative.

Operating costs rose 24.6% to 55.6 million euros, "strongly impacted by the growth in irregularity expenses (+116.6%; +1.1 million euros), ACMIs (+112.3%; +0.4 million euros), commissions/GDS (+79%; 2.7 million euros), handling' (+52.6%; 2.1 million euros) and maintenance (+45.2%; 1.2 million euros)", they explain.

The result before interest and taxes (EBIT) also shows "a deterioration of 1.9 million euros".

On the other hand, SATA Air Açores reached a total of 162 thousand passengers transported in the first quarter, up 8.9% compared to the same period, with total revenue growing 10.5% to 21.7 million euros.

EBITDA improved by 0.4 million euros, registering a value of -0.8 million euros.

The airline operated 3,210 flights (+67 flights, +2.1% compared to 2023) and transported 162 thousand passengers, an increase of 8.9%.

Total revenue reached 21.7 million euros, up 10.5% compared to the same period.

EBIT improved by 0.5 million, reaching 3.4 million euros negative.

As for operating costs, "there was a more significant increase" in commercial costs (+27%), maintenance costs (+9%) and personnel costs (+8%).

It should be noted that the SATA Group's management recommended, last week, "not to proceed with the current privatization tender", a position that the Civil Aviation Pilots' Union (SPAC) welcomed on Monday.

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