Regional airline Volotea is deep in discussions with banks and financial institutions over a second attempt at an initial public offering (IPO) on Spain’s central stock market, according to local reports.
A report in Spanish news outlet Expansión explained how the airline has commissioned an initial valuation from its legal advisors. The same article reported that Volotea hired Morgan Stanley and Barclays investment banks to prepare the company for floatation.
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The airline flies to Spain, Italy and France. Its French domestic routes have become increasingly popular, even outstripping Air France-KLM. At least part of this popularity is due to Volotea eschewing Paris. It does fly to select holiday destinations from Paris (CDG and ORY) but uses mid-sized airports such as Lyon, Lille and Nantes as its hubs.
The Barcelona-based airline was inaugurated in 2011 by Carlos Muñoz and Lázaro Ros, first operating a flight in 2012. In the intervening years, it has developed its Airbus fleet and extended its pan-European routes.
It considered an IPO in 2016 but reversed course due to market volatility at the time.
The airline has yet to confirm the date of the IPO but did not deny the work was continuing, with a company spokeswoman saying: “A listing on the stock market is a natural step we have always considered, but we will announce it when it happens like we have always said.”
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