Eight investors have expressed interest in acquiring a majority stake in Azores Airlines (S4, Ponta Delgada), the carrier's Azorean government-owned parent Grupo SATA said in an update on the privatisation process.

Interested bidders had until September 6 to file documents outlining their offers, also signalling their financial capacity and compliance, in order to enter the process to acquire at least 75% of the airline.

SATA did not disclose the names of the bidders. In the past, reports have alleged that several companies were interested, including Binter Canarias and Icelandair. The Icelandic carrier later denied any interest in the Portuguese airline.

Bidders now have until September 21 to file a non-binding offer for Azores Airlines. The Azorean government is looking to offload the carrier as part of its commitments to the European Union. However, earlier this year, it axed a previous privatisation process on the grounds that it did not safeguard the interests of the region or the population.

Among the acquisition conditions, the buyer is required to maintain jobs and the airline’s headquarters in the Azores for at least 30 months. The company’s fleet comprises two A320-200s, two A320-200Ns, two A321-200Ns, and three A321-200NX(LR)s. Sister company SATA Air Acores will not be privatised in this process.