The airline Volotea is finalising a complete restructuring due to an impact of approximately 150 million euros from the rise in fuel costs following the war in Iran. This plan includes layoffs and a reduction of its fleet.
Volotea is undertaking a total restructuring of its business, forced by the increase in fuel costs due to the war in Iran. The airline, which seeks to ensure its continuity, expects to reduce its capacity by between 20% and 25%, lay off around 50 people at its headquarters in Barcelona, and renegotiate its debt with creditors, according to information from expansion.com.
The company, led by Carlos Muñoz, has estimated that the additional fuel cost compared to what was initially budgeted reaches 150 million euros. This is because, despite having hedges for 50% and 60% of its needs, these are still lower for 2027.
For this summer, Volotea had 44 aircraft, a number that will be reduced to between 30 and 35 units. In 2025, the airline reported a turnover of 817.9 million euros, with a loss of 64.3 million euros, which represents a 147% increase compared to the previous year.
The restructuring includes a capital increase, in which the founding partners and executives will participate, while Aegean Airlines and PAR Capital may also take part. Additionally, the airline is in negotiations with banks to obtain 25 million euros to improve its liquidity.
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