- Volotea entered pre-bankruptcy negotiations with creditors
- The airline filed for preliminary creditor protection at the Commercial Court of Barcelona
- Volotea plans to cut its fleet from 44 to between 30 and 35 aircraft
- The carrier is seeking to restructure a €200m loan
- Around 50 job losses are expected mainly in Barcelona
Volotea has entered pre-bankruptcy negotiations with its creditors after filing for preliminary creditor protection at the Commercial Court of Barcelona. The Barcelona-based low-cost regional carrier is seeking to restructure its debt, including a €200m loan owed to Spanish lenders and state holding company SEPI, following a €150m fuel-cost shock caused by ongoing geopolitical instability in the Middle East.
Despite the financial restructuring, Volotea has stressed that its flights to over 110 destinations continue to operate normally, and the company is actively selling tickets while working to finalise a restructuring plan by December 2026. However, consumer rights groups like FACUA have issued warnings advising passengers to exercise caution when purchasing new tickets until the airline’s long-term future is secured.
To absorb the fuel price spikes and manage its COVID-era debt, Volotea is implementing a viability plan. The airline is shrinking its active fleet from 44 aircraft down to approximately 30 to 35 Airbus jets. Volotea is heavily exposed to regional markets, with France representing 60pc of its total activity. Regional networks across Italy and Spain are also expected to see capacity reductions, route thinning or base freezes in cities like Bordeaux, Lyon and Brest. The cost-reduction measures include workforce downsizing among its 2,300 direct employees. Negotiations include a proposed scenario to convert roughly €56m of debt into equity alongside an injection of €15m in fresh cash.
