You are right about SATA, when one knows about their recruitment plans, it's already too late. Recruitment at SATA in the short/medium term is highly unlikely.
There have been rumours, in the last couple of month, about recruitment at TAP sometime next year, though as said before, the market is full of unemployed pilots as well as experienced pilots willing to change.
Although if this happpens, positions in other companies will be vacant, creating other opportunities for the "low houred" guys.
It is true that Easyjet and Ryanair are opening bases in Portugal, but as far as I know you cannot apply directly for a specific base.
Applying for a position there, with the purpose of working in Portugal might be a long shot, but it can happen.
Boa sorte! 