(Telestock) – Volotea has made a capital increase of 100 million of euros which also sanctioned the entry into the capital of AEGEAN Airlinesthe main Greek carrier and commercial partner of Volotea since 2021. This operation strengthens financial position of Volotea and consolidates the strategic partnership with AEGEAN, with the aim of improving the positioning of both airlines on the continent and their ability to respond to changes in the sector.
More specifically, Volotea has strengthened its shareholder base with an injection of 50 million eurosof which 25 million paid by AEGEAN and the remaining ones 25 million from the company’s current investors, including the team of managers led by CEO and founder Carlos Muñoz. Another tranche of 50 million of euros should be paid by the first quarter of 2025with the same distribution.
If the contribution of the first tranche of AEGEAN were to be converted into shares, this would correspond to a acquisition of 13% of Volotea shares by the Greek carrier. If the second tranche is also paid and subsequently converted, AEGEAN’s overall participation in Volotea could reach 21%.
Together with the entry into the capital, a Commercial joint venture between the two carriersaimed at strengthening Volotea’s strategic and financial position in Europe, to better address the upcoming developments in the sector (ITA-Lufthansa) and the evolution of the competitive landscape of the European market. In addition, Volotea will be able to strengthen further his presence in Greecefocusing on growth and improving services in the country.