Aegean Airlines is in advanced discussions regarding a new investment in Volotea, as revealed by the airline’s chairman, Eftichios Vassilakis, during a briefing on Aegean’s 2024 financial results on Tuesday. While the exact size of the investment has yet to be determined, Vassilakis expressed satisfaction with the initial phase of the partnership, stating that negotiations are expected to conclude within the next three months.
Aegean has already invested €30 million in Volotea, following an agreement announced last September. The first phase of the investment involved a €25 million contribution to the Spanish airline’s €50 million capital increase, structured as a convertible loan. This move secured Aegean a 13% stake in Volotea, which was later increased by an additional €5 million stock purchase, raising its ownership by 4.9 percentage points.
Vassilakis emphasized that the second phase of the investment, contingent on Volotea achieving specific financial targets in 2024, includes another €50 million capital increase, with Aegean expected to contribute €25 million.
The Aegean chairman also highlighted Volotea’s strong performance in the past year, noting significant growth in passenger traffic and an impressive 50% increase in EBITDA, which surged from €95 million in 2023 to €148 million in 2024.
As discussions progress, this potential investment signals Aegean Airlines’ strategic commitment to expanding its influence in the European aviation market, strengthening its partnership with Volotea, and capitalizing on the rapid growth of regional air travel.
