Volotea downsizes to cut costs while negotiating debt payment terms
Barcelona-based carrier Volotea is planning a number of measures to cut costs, according to reports appeared in the Spanish media.
Volotea will cut its fleet from 44 aircraft to a figure between 30 and 35. No details have been provided about which specific bases may be affected by this measure. At the same time, the carrier is also reducing headcount by around 50 people at its Barcelona headquarters.
On the financial front, Volotea is engaged in negotiations with some of its creditors to restructure its existing loan payment schedules.
One of Volotea’s key creditors is Spain’s Sociedad Estatal de Participaciones Industriales (SEPI), a government-owned holding company that backs Spanish companies deemed strategically significant for the country across a range of industries.
At the center of these conversations is a €200 million loan that Volotea received from SEPI in 2022 as part of measures to mitigate the impact of the COVID-19 pandemic on Spain’s tourism industry. Volotea is now reportedly trying to reschedule the repayment of that loan, which is, in principle, due in 2029.
The Spanish carrier is, simultaneously, looking to raise fresh capital in order to secure its long-term financial position. The airline’s current management team, led by Volotea’s founder Carlos Muñoz and his investment vehicle Alaeo, have confirmed they intend to participate in further capital raising funds.
These reports have also prompted speculation in industry circles that Aegean Airlines, which participated in Volotea’s previous fundraising round with a convertible loan giving it control of up to 21% of the airline, could make a bid to take full control of the Spanish airline. However, the Greek carrier has denied these rumors.
Volotea has blamed its current predicament on the increase in fuel prices caused by the conflict in the Middle East. Earlier in 2026, the airline introduced a retroactive fuel surcharge on some flights, a measure which was later withdrawn after meeting significant criticism from travelers.
The airline estimates the impact of the fuel price crisis to be €150 million per year. This is a significant figure for an airline that posted an EBIT (Earnings Before Interest and Taxes) of €47.4 million in 2025.
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Barcelona-based carrier Volotea is planning a number of measures to cut costs, according to reports appeared in the…
The post Volotea downsizes to cut costs while negotiating debt payment terms appeared first on AeroTime.
