Volotea is in the final phase of negotiations with its creditors to restructure its long-term financial debt and is considering reducing its fleet, which currently totals 44 aircraft, to a range of between 30 and 35 aircraft, mainly A320. This adjustment is part of a plan aimed at reinforcing the stability of the airline and ensuring the continuity of its operations, after an impact derived from the increase in fuel costs of about 150 million euros.
The company has activated the Negotiation Opening process with its creditors and is collaborating with the State Society of Industrial Participations (SEPI), its operational partners, and various financial entities with the goal of closing a deal that guarantees the future viability of the company. Volotea is confident that these conversations will conclude throughout the upcoming month of December.
At the same time, the airline is preparing a capital increase with the entry of different investors, to which is added the commitment already acquired by Alaeo, the investment vehicle of the management team, led by its founder and CEO, Carlos Muñoz.
Main partners and financial boost
Among the reference investors of Volotea are Aegean Airlines, the largest airline in Greece and a commercial partner since 2021, and PAR Capital, who act as strategic partners after completing a capital reinforcement plan in the 2024 and 2025 fiscal years.
The company addresses this new phase after chaining three consecutive years with positive operating results, following the strong impact of the Covid-19 pandemic and the war in Ukraine between 2020 and 2022. The net operating result (Ebit) went from 3 million euros in 2023 to 33.5 million in 2024 and 47.4 million in 2025.
In the same line, Ebitda advanced from 96 million euros in 2023 to 146 million in 2024 and 164 million in 2025, according to the figures communicated by the company itself.
Impact of the geopolitical context and fuel
Volotea emphasizes that, since March of this year, the airline sector operates in an environment of high geopolitical uncertainty, characterized by strong volatility in energy prices and a notable increase in fuel costs. In its case, this increase has meant an approximate impact of 150 million euros.
According to the airline, the prolongation of this scenario has transformed some initially temporary challenges into problems of a more structural nature, within a very competitive market and subjected to increasing pressure on margins.
Staff adjustment and future plan
In this context, the reduction and optimization of the fleet will also have consequences in certain areas of the Barcelona offices. Volotea estimates that an adjustment of around 50 jobs will be necessary in the coming weeks.
The founder and CEO of the company, Carlos Muñoz, has recalled that the airline has been promoting connectivity between medium-sized European cities for almost fifteen years and has transported nearly 90 million passengers and has 2,300 direct employees.
Muñoz has pointed out that the current environment of the industry forces the airline to reorganize its financial debt and its fleet in order to guarantee a solid and sustainable long-term project for its workers, its customers, and the regions in which it is present.
Despite the restructuring process, the CEO of Volotea has insisted that activity continues without disruptions. "We continue to fly normally, offering new routes, selling tickets, and planning our future schedule," he stated.