More Time Given to Loftleidir-Icelandic to Present Offer to Azores Airlines

A 49 percent stake in Azores Airlines is still for sale and the original deadlines for receiving offers have been extended of Loftleidir-Icelandic.

Loftleidir-Icelandic, previously known as Icelandic Airlines, has received an extension for the second time, as the company missed the latest deadline set for the process. The carrier will now have an additional 26 days to analyze the potential acquisition and submit its official offer.

The approval for the extension of the deadline has been granted by Portugal’s SATA group in order for Loftleidir-Icelandic to better review the potential in Azores Airlines.

Requirements for the future owner of Azores Airlines include the achievement of the carrier’s existent fleet renewal plan. The plan starts with Airbus’ A321neo. In addition, there are more requirements such as maintaining a certain number of regular air operations and public service obligation routes.

The brand of Azores Airlines must also be kept, along with the operator independence.


Source: Aviator