AEGEAN Airlines S.A. announced an investment of €25 million in Volotea S.L., one of Europe’s leading low-cost carriers, headquartered in Barcelona, Spain.

In a statement, AEGEAN mentioned that Volotea began operations in 2012 and currently operates from 22 bases, mainly in France, Italy, and Spain. The airline serves over 450 routes, focusing primarily on seasonal, smaller markets and leisure destinations that previously lacked direct flight connections.

In 2023, Volotea carried 10.3 million passengers using a fleet of 41 Airbus A320/A319 aircraft. The French, Italian, and Spanish markets represent approximately 90% of the airline’s operations, with the remaining 10% shared between Greece and Germany.

According to AEGEAN, the initial €25 million investment is part of a joint capital increase of up to €50 million, in collaboration with Volotea’s existing shareholders, through the issuance of a convertible financial instrument (loan) with profit-sharing rights.

AEGEAN further noted that, depending on specific conditions related to Volotea's financial performance in 2024, a second disbursement of up to €50 million could take place in the second quarter of 2025. AEGEAN would contribute an additional €25 million in this potential follow-up investment.

Additionally, AEGEAN and Volotea have signed a Memorandum of Understanding (MoU) to explore new collaboration opportunities in distribution and other commercial sectors, aiming to enhance synergies between the two companies.

In the announcement, AEGEAN Chairman Eftychios Vassilakis stated, “We are investing in Volotea because we believe in the company’s strategy and growth prospects. Our goal is to strengthen distribution and coverage in key markets like France, Italy, and Spain, as well as provide direct connections to Greece's regional airports.”