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i ▲O valor de passivos por obrigações contratuais na SATA Air Açores apresenta face ao ano anterior uma redução de 3,1 milhões de euros MARIO CRUZ/LUSA ▲O valor de passivos por obrigações contratuais na SATA Air Açores apresenta face ao ano anterior uma redução de 3,1 milhões de euros MARIO CRUZ/LUSA O grupo SATA, que em 2020 registou um prejuízo de 88 milhões de euros, teme ficar aquém dos resultados estimados para 2021 em caso de agravamento da pandemia, segundo o relatório a que a Lusa teve esta quinta-feira acesso.

By David Kaminski-Morrow2021-05-05T08:13:00+01:00 Portuguese carrier SATA Air Acores has been cleared to take government compensation and liquidity support worth over €267 million ($320 million), but a previous investigation into suspected illegal support measures is being extended. European Commission regulators have cleared a €12 million state grant to SATA Air Acores, as compensation for pandemic-related travel restrictions over March-June last year, plus a further €255.5 million in additional liquidity. Any public support in excess of the damage will need to be returned to the gov...

FALL RIVER — Marc Dennis is doing his part to inject some life into a downtown district riddled with storefront vacancies. The professional Portuguese pop and rock singer, retired school teacher and real estate investor has just opened a new restaurant with an international flair at 201 South Main St. Dennis says he’s still undecided whether to call the restaurant 201 Dining at the Cultural Center or Dining at the Cultural Center. He had a soft opening with free food samples last Wednesday night. “I give him a lot of credit,” said Rhode Island business owner John Medeiros who was ther...

Aegean Airlines The Greek government in November set out plans to provide up to €120 million ($146 million) in state support for Aegean Airlines as part of a wider capital increase. Under the plan, the Greek state would receive warrants for the purchase of shares in the company. The European Commission approved the Greek investment, which is being made via a direct grant, on 23 December. Air Baltic The Latvian government’s €250 million recapitalisation of Air Baltic was approved by European regulators in July. The move took the Latvian state’s holding in the airline from 80% to abo...

By David Kaminski-Morrow2020-12-14T12:53:00+00:00 Azorean carrier SATA Air Acores is facing the prospect of substantial restructuring after European regulators declared that a previous government’s capital injections to the company amounted to illegal state aid. The Portuguese archipelago’s secretary for finance, Joaquim Bastos e Silva, has disclosed during a legislative assembly that nearly €73 million ($89 million) in support – put in place during 2017-20 – breached European Union rules, because prior approval was not obtained. “SATA must return this huge amount to the [region...