Volotea to shrink fleet to 30-35 aircraft and cut Barcelona jobs

Volotea plans to cut its fleet by about a third, from 44 leased Airbus jets to between 30 and 35 aircraft, the Barcelona-based carrier said. A320s will make up most of the remaining fleet.

The Spanish budget airline is working through a restructuring with SEPI, the state-owned industrial holding company, and with stakeholders and financial institutions. It expects the process to finish in December, with the stated aim of protecting the long-term continuity of its operations.

Volotea blames structural challenges tied to high fuel prices and what it calls significant geopolitical uncertainty. Alongside the fleet reduction, it is seeking another capital increase from investors, on top of an existing commitment from Alaeo, the investment vehicle led by founder and chief executive Carlos Munoz.

Its other main backers include Aegean Airlines and the US investor PAR Capital. Aegean said it has never proposed taking a majority stake in Volotea or assuming management control of the company. It said it has supported the carrier over the past two years without being involved in its management, operations or decisions, and that talks with Volotea about its next steps continue in a difficult environment.

Earlier this year Aegean raised its holding in Volotea above 20% after an earlier capital increase of €15 million, bringing the total raised under a financing plan begun in 2024 to €71 million. Roughly 50 positions in Barcelona are expected to be eliminated in the coming weeks as a result of the fleet reduction.