The Spanish airline Volotea, dedicated to connecting small and medium-sized European cities, closed the first nine months of 2024 with a turnover of 640 million euros, 14.5% more than in the same period of 2023. In these first nine months, the company has registered a Ebitda of 121 million euros and an operating result (Ebit) of 34 million euros with a gross margin of 19%.
This growth, which confirms the trend observed months before, will cause 2024 to be the most profitable year of the history of the company founded in 2011 by Carlos Muñoz and Lázaro Ros. Specifically, its forecasts contemplate exceed 800 million euros in revenue and raise its EBITDA to 150 million51% more than in the previous year.
From January to September, Volotea experienced a notable increase in its profitability, driven by both a growth in the number of routes and the number of passengers, which in 2023 exceeded 10 million. By the end of 2024, the airline plans transport between 11.5 and 12 million people on its more than 450 routes, with a significant increase in operations in Spain, where it has transported 2.3 million passengers to date, 17% more than in the same period in 2023.
The airline closed 2023 with a negative net result of 98 million euros, 40% less than in 2022, largely due to the efforts to reduce your debt. Its operating result (Ebit) stood at 1.4 million. In September, the airline reinforced its financial structure with a capital increase of up to 100 million euros, of which the first 50 million have been contributed by its management team, shareholders and the Greek airline Aegean Airlines, which has become a shareholder. .
Regarding its operations, Volotea has incorporated in 2024 three new bases in Brest and Rodez (France) and Bari (Italy). At an operational level, the airline continues to focus on the short-haul flight segment, on intra-European routes and for the leisure and family visit market, which they consider the most resistant to the volatility of the sector.
Carlos Muñoz, CEO of Volotea, has expressed his optimism regarding the future of the airline, highlighting that “Volotea has registered solid financial results in the first nine months of the year, significantly exceeding last year’s levels.” He added that “a flexible strategy and solid demand in our markets have allowed us to grow steadily and improve margins, reaching historic margins that lead us to forecast a 2024 closing in record numbers”.
With the plan to continue increasing its fleet and opening new routes, Volotea plans to continue its growth path that aims to exceed 175 million EBITDA in 2025consolidating its position in the European market.
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