The share capital of SATA Air Azores, SATA group company which ensures the air routes between the islands of the archipelago, will increase by about 21,6 milhões de euros, According to a resolution published in the official journal.
The said increase in capital, In addition to continuing the strategy of public sector enterprise restructuring, through greater autonomy and financial soundness of the company, meets a recommendation from the Regional Section of the Azores from the Court of Auditors, refers to the resolution of the Council of the Government.
Segundo o documento, the form of transfer of 21.580.735,00 euros, and the consequent strengthening of social capital through subscription of 4.316.147 new actions, Watch the corporate model of the SATA group.
The share capital of SATA Air Azores is currently 16,8 milhões de euros.
The regional Secretary of transportation and public works, Vítor Fraga, explained that the increase of the share capital of the company is designed to strengthen the economic and financial consolidation strategy of SATA and your capitalization group. And stressed that the increase falls into the restructuring of the business sector in the region, that is not limited to extinction or merger, but also to provide all public companies with the means to fulfil the your objects.
The Government Council resolution authorizes the transfer of almost 21,6 EUR SATA milhões SGPS, held in your entirety by the autonomous region of the Azores, to achieve economic in six years, beginning on 2017 and term in 2022, in the amount of about 3,5 milhões euros.
The same resolution mandates the region's representative to, at the general meeting of SATA SGPS, approve the application of the amount of increase of the capital stock of SATA Air Azores.
SATA will increase social capital
