The Spanish low-cost airline has hired investment banks Morgan Stanley and Barclays to prepare a possible listing of its shares on the Madrid Stock Exchange (Expansión newspaper of September 18).
A possible valuation of 1 billion euros
The final listing decision has not yet been made and will depend on market conditions. An initial public offering (IPO) could value the company at 1 billion euros, they added.
The boss of Volotea already had plans for an IPO
Volotea CEO Carlos Muñoz told the Cinco Días newspaper in December 2022 that the low-cost carrier was considering an IPO in two to three years if it returned to profitability in 2023.
Volotea expected to announce profits
Volotea said it expected to achieve between €93 million and €103 million in earnings before interest, taxes, depreciation and amortization (EBITDA) for the first nine months of 2023. The airline would have seen a 25% increase in turnover over one year and a good year in which it will achieve high profitability.
