In a post published to LinkedIn, Volotea outlined some details of the agreement, which aims to facilitate connectivity between Latin America and Volotea精东影业 extensive European network via Madrid (MAD). 

Volotea does not currently have a large presence at Madrid-Barajas Airport, since its focus is on connecting second and third tier airports across Europe (mostly in Spain, France and Italy). However, interestingly, it has announced its willingness to base approximately 15 to 20 aircraft in the Spanish capital. 

This move would be directly connected to the outcome of the ongoing acquisition of Air Europa by its direct and larger competitor, Iberia. 

The acquisition is currently under the scrutiny of European regulators. It is feared that the merger could negatively affect competition in routes between Spain and Latin America, where the combined entity would have a dominant position. 

Through the joint venture, Volotea and Abra Group can establish themselves as an alternative should the European competition watchdog dictate some remedial measures, such as the redistribution of slots or frequencies, as a condition to approve the deal. 

According to Cirium data, as of June 2024, Avianca operates nonstop flights between Madrid and Bogota (BOG), Medellin (MDE) and Cali (CLO) in Colombia as well as San Salvador (SAL).聽

Volotea operates a fleet of 40 Airbus A319 and A320 aircraft across 450 routes in Europe. From Madrid it currently flies to Lyon (LYS), Nantes (NTE), Olbia (OLB), Murcia (RMU), Toulouse (RLS) and Verona (VRN), a network that could expand significantly if these plans finally go ahead. 

The Spanish airline精东影业 gross margin has also markedly improved, from an operational loss of 鈧�44 million to a positive EBITDA (earnings before interest, taxes, depreciation and amortization) of 鈧�96 million.  

In statements given to the Spanish media, Carlos Mu帽oz, the airline精东影业 Co-Founder and CEO, attributed the improved results to Volotea精东影业 ability to keep a low-cost base in a context of increasing demand and capacity. The carrier recently completed its transition to an all-Airbus fleet, which as of April 2024, is composed of 42 aircraft, divided almost equally between Airbus A319s and A320s. 

Volotea, which operates 410 routes across Europe, mostly linking second and third tier airports directly, carried 10.4 million passengers in 2023. 

The airline holds an optimistic outlook for 2024, a year in which it expects to expand capacity by 15% to carry more than 12 million passengers and reach the 鈧�800 million revenue mark. Volotea also plans to open two new bases in 2024, in Brest, France, and Bari, Italy.  

Volotea is also considering a stock market listing through an initial public offering (IPO), a move that has been on the cards for a number of years but has been repeatedly postponed. According to the latest reports, the airline精东影业 management team is waiting for other high-profile IPOs that are due to take place in the Spanish stock market this year to better gauge the market精东影业 sentiment before deciding. 

In parallel to these developments, Volotea has also started to return a portion of the 鈧�350 million in government-backed loans it received to stave off the impact of the COVID pandemic. The airline has until 2029 to return the bulk of those funds. 

This is not the first time that the Barcelona-based carrier has initiated the process to become a publicly listed company.  

On a previous occasion in 2016 the airline even sent an official note to the Spanish stock market regulator (鈥淐NMV鈥�) about its impending listing. However, the IPO was cancelled, allegedly due to the high volatility that markets were going through at the time.  

Volotea was launched in 2012 by Carlos Mu帽oz and L谩zaro Ros, who founded Vueling, now part of the IAG Group, a few years earlier.  

The airline started with a fleet of second-hand Boeing 717 aircraft, linking small and medium-sized cities in western Europe with limited direct air connectivity. 

In the decade since then, Volotea has grown considerably, carrying 9.5 million passengers in 2022 and transitioning to an all-Airbus fleet of 40 aircraft (20 A319s and 20 A320s).  

Most of Volotea精东影业 routes are in Italy, Spain, and France. Its operational formula has been particularly successful in France, where it has surpassed Air France to become the country精东影业 largest domestic airline by traffic, with a route network that, unlike that of the flag carrier, bypasses Paris almost entirely.