Barcelona, March 26, 2026 – Volotea, the low-cost carrier linking small and mid-sized European cities, has finalized a €71 million capital increase. The transaction completes a process launched in September 2024, initially targeting up to €100 million, with €56 million raised by October 2025 and a final €15 million added in early 2026.
The round was led by Aegean Airlines, Greece’s largest carrier and Volotea partner since 2021, alongside U.S. investment firm PAR Capital and Alaeo, the management team vehicle led by Founder and CEO Carlos Muñoz. Other existing European shareholders participated. Aegean’s investment elevates its stake above 20%, reported at 21% in some accounts.
The lower-than-planned amount reflects stronger-than-expected operational cash flows, reducing external funding needs. In 2025, Volotea carried 11.3 million passengers with a 90% load factor. For 2026, it targets 12% capacity growth to 14 million seats across 430 routes.
Recent expansions include new French bases: an Airbus A320 at Montpellier (MPL) serving Bordeaux, Madrid, Tenerife-South and Lanzarote; and an A319 at Limoges (LIG) with nonstop flights to Paris-Orly, Barcelona, Rome Fiumicino, Marseille, Ajaccio, Palma, Menorca and Malaga.
“This capital injection marks a key financial milestone and strengthens our position,” said Carlos Muñoz. Despite six years of net losses—€46.1 million in 2024—the funding bolsters Volotea’s balance sheet amid projected 2025 revenue records.