Volotea increases operating profit by 63% to €13.6m in 2018

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Spanish low-cost airline Volotea achieved record operating profit (EBIT) of €13.6 million in 2018 – a surge of 63 per cent on 2018.

Revenues exceeded €396.1 million, up 29 per cent or €89 million year-on-year in comparison to the €307.5 million achieved in 2017. Seat revenues reached €258.4 million up 28 per cent and ancillary revenues reached €137.7 million, 31 per cent higher than the previous year.

Volotea operated 53,400 flights in 2018 (up 20 per cent) and carried 6.57 million passengers (up 36 per cent) with a 93.1 per cent load factor, 7.7 percentage points higher than the previous year.

Four new Airbus A319 aircraft were added to Volotea’s fleet in 2018 and it now has a fleet of 30 aircraft.

“We are very happy with our financial results, showing continuous strong growth. This proves the success of our strategy connecting mid-sized European cities with direct flights, avoiding hubs.

“Also, adding additional Airbus A319s allows us to increase our capacity with a more cost-competitive aircraft, increasing our profitability year-on-year,” said Carlos Muñoz, founder and chief executive officer of Volotea.