Regional low-cost carrier Volotea has completed its latest capital increase round.
The airline announced in September 2024 that it was planning to raise up to €100 million in additional capital through convertible notes in order to fuel its ongoing European expansion.
The final amount raised, however, has been capped at €71 million. According to the airline, funds from its own operations have sufficed to cover its remaining financing needs.
The bulk of this capital, €56 million, had already been committed by October 2025, with the additional €15 million in funding having been secured in the first quarter of 2026.
Aegean Airlines, the largest carrier in Greece, has led the round, with a €50 million investment which gives it a 21% equity stake in Volotea. Investment firm PAR Capital and Alaeo, which is the investment vehicle of founder Carlos Muñoz and the airline’s management team, have also participated in the successive funding rounds.
Privately-owned Volotea had not yet disclosed exact financial performance figures as of March 26, 2026, but in October 2025 it provided guidance anticipating record revenue and profit figures for 2025.
The Barcelona-based airline expected €840 million in revenue for 2025, and while this represents a modest 4% increase over the preceding year, the airline’s operational results are expected to show a much steeper improvement. EBITDA is expected to reach €190 million, up 29% compared to the preceding year, which would represent a rather remarkable margin, for industry standards, of 22–24%. EBIT margin, in turn, is expected to be in the 8.5-9% range, 4.5 percentage points above that of 2024.
In February 2026, Volotea reported that it had carried 11.3 million passengers in 2025, achieving a load factor of 90%. In 2026, the airline plans to expand its capacity by 12%, to 14 million seats distributed among 430 routes within Europe.
In December 2025 and January 2026, Volotea also announced the establishment of two new French bases, in Montpellier (MPL) and Limoges (LIG), respectively.
Volotea is basing an Airbus A320 aircraft in Montpellier and adding four new destinations from the French southern city to Bordeaux (BOD), Madrid (MAD), Tenerife-South (TFS) and Lanzarote (ACE). Limoges, in turn, is getting an A319 aircraft and eight new nonstop routes to Paris-Orly (ORY), Barcelona (BCN), Rome Fiumicino (FCO), Marseilles (MRS), Ajaccio (AJA), Palma (PMI), Minorca (MAH) and Malaga (AGP).
