Aegean Airlines, PAR Capital, and Alaeo (Management team) strengthen their role as key strategic partners supporting the company’s growth.

Volotea closes the process started in September 2024 with a final €15 million raised, bringing the total to €71 million, and enters a new phase backed by strong financial and operational performance.

Barcelona, March 26th, 2026 – Volotea, the airline connecting small and mid-sized European cities, has completed a €71 million capital increase. The transaction was led by Aegean Airlines—the largest airline in Greece and a strategic and commercial partner of Volotea since 2021—together with Alaeo, the group representing the company’s management team led by Founder and CEO Carlos Muñoz, and U.S. fund PAR Capital, a well-known investor in the aviation sector, with participation from other existing European shareholders. This transaction further strengthens the company’s financial position and results in a renewed core shareholder base, fully aligned with its long-term growth strategy.

The transaction marks the completion of the process launched in September 2024, when Volotea announced a capital increase plan of up to €100 million. In total, the company has raised €71 million, reflecting a reduced funding requirement driven by improved operational performance.

The airline made further progress on this plan in October 2025 with the backing of its existing shareholders, including Aegean Airlines and PAR Capital, bringing the total raised to €56 million. This latest €15 million capital increase further reinforces their commitment and role as key partners in the company’s future development and its positioning in Europe, increasing Aegean’s holding above 20% in Volotea.

Carlos Muñoz, Founder and CEO of Volotea, said: “This is a very important achievement for Volotea, especially considering the current instability in the Middle East. This capital injection marks a key financial milestone and strengthens our position as we move confidently into the next phase of the company’s growth. With this transaction, we successfully complete our capital raise launched in 2024 and consolidate a solid shareholder structure, with top-tier partners fully aligned with our long-term vision. This allows us to focus on executing our strategy, further enhancing connectivity across Europe and continuing to offer our customers more and better travel options.”

The airline closed 2025 with solid operational performance across its network, carrying 11.2 million passengers. This was accompanied by an improvement in on-time performance (OTP15), which reached 79%, and a flight completion rate of 99.7%, according to Cirium, positioning Volotea—for the second consecutive year—as the most reliable low-cost airline in Europe.

Looking ahead to 2026, Volotea expects to continue driving growth through increased capacity, reaching 14 million seats (+12% vs. 2025), expanding its network to around 430 routes, and opening new bases in France, further enhancing connectivity across Europe.