The airline Volotea closed the last financial year 2023 improving the Ebitda margin by 22 percentage points compared to 2022, reaching 96 million euros and a turnover of 694, 24.6% higher than the previous year. These figures consolidate the positive evolution of the airline, whose CEO, Carlos Muñoz, is from Murcia. In 2021, it laid the foundations for the total reactivation of its business, allowing the company to return to the path of profitability in a solid manner after the pandemic.
In 2022, the company's turnover reached 557 million euros, an increase of 84% compared to 2021 (302 million). These figures were possible thanks to a flexible and efficient strategy that took advantage of the recovery in demand, the structural change of the fleet to Airbus, and the decrease in fuel prices. In addition, the increase in Volotea's capacity resulted in more than 410 operational routes and almost 12 million seats offered in 2023 (15% more than the previous year). Likewise, the company transported 10.4 million passengers in 2023 (12% more than the previous year), and operated more than 70,000 flights (7% more than in 2022).
The company's turnover reached 557 million euros in 2022, an increase of 84% compared to 2021
To face this significant operational increase, Volotea increased its workforce by 10% in 2023, with more than 1,800 employees, a figure that is expected to continue growing throughout this year until it exceeds 2,000 workers in the high season. Furthermore, in 2024 the company expands its 'auto handling' activities (provision of ground assistance services), generating more than 180 new jobs in Spain. At the beginning of 2024, the airline also added three new Airbus A320 aircraft to its fleet, which now totals 44 aircraft.
Satisfied with the results
Looking ahead to 2024, Volotea estimates another record year in terms of activity, with 10% more routes than in 2023, reaching 450 (13 new from Spain). Likewise, the airline foresees an offer of between 12.5 and 13 million seats (between 12% and 16% more than in 2023), 12 million passengers and around 80,000 flights. Thanks to this, and in accordance with forecasts, Volotea's turnover in 2024 would exceed 800 million euros, becoming the year with the highest profitability in the company's history.
The CEO of Volotea, Carlos Muñoz, was satisfied with these results that demonstrate the solidity of the business model, the flexibility of the company to adapt to the environment and its ability to continue growing and noted that “Volotea recorded solid financial results in 2023 and historic margins for a company with just over ten years of life. In April of last year we inaugurated a new base in Florence and announced the opening of two more in Brest, in Brittany, France, and in Bari, in Italy, which will begin operating this year. Furthermore, I am proud to celebrate in Lyon – our third base in Europe – the 60 million passengers transported since 2012.”
Best European Low Cost Airline 2024
Recently, Volotea was named 'Best European Low Cost Airline 2024' for the third time at the World Travel Awards, obtaining four stars from Skytrax, the international air transport rating organization. Regarding its recommendation rates, 92% of Megavolotea customers in Spain recommend traveling with the company.
Regarding the efficiency of its operations, 99.3% of the flights operated by the airline last year complied with the flight schedule, positioning it among the 3 best European low-cost airlines. Finally, at a European level, Volotea recorded an average occupancy level of its scheduled flights of 92%.
This airline's operational strategy focuses on the most resilient segment of the market. All of its flights operate non-stop and most connect small and medium-sized cities – where 65% of Europe's 507 million inhabitants live – that had a scarce supply.
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