Volotea Seeks Fresh Capital as Fuel Costs Push Equity Negative
Spanish carrier Volotea reported record passenger numbers and an operating profit for 2025 but faces negative equity and expects a loss this year due to surging fuel prices.
Volotea carried 11.3 million passengers in 2025, generating revenue of 818 million euros and an operating profit of 47.4 million euros, according to the airline. Its audited balance sheet nonetheless shows negative equity of 77.5 million euros, which under Spanish law would normally require dissolution.
The airline agreed with creditors to defer 49.3 million euros in payments and is negotiating an additional loan of 25 million euros. Shareholders have already contributed 15 million euros in fresh capital, including 9.5 million euros from main shareholder Aegean Airlines.
Volotea expects a loss of 33 million euros this year. Fuel costs are the main problem. Jet fuel prices have nearly doubled, and hedging covering 66 percent of needs in the second quarter and 78 percent in the third quarter of 2026 has not been enough to absorb the increase.
Sources
- aerotelegraph.comVolotea in finanzieller Schieflage -Aktionäre müssen frisches Geld einschießen