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Aegean Airlines has moved to clarify its position on Spanish low cost carrier Volotea, rejecting reports that it is seeking to take control of the airline.<\/p>\n
Aegean holds more than 20 per cent of Volotea, placing Greece\u2019s largest airline at the centre of speculation about the Spanish carrier\u2019s future as it faces renewed financial pressure.<\/p>\n
Volotea is reportedly navigating another restructuring as higher fuel costs, pandemic era debt and increased financing requirements put pressure on its business.<\/p>\n
Reports in international media have raised the possibility of changes to Volotea\u2019s shareholder structure, including speculation that Aegean could increase its stake.<\/p>\n
Aegean has now firmly rejected suggestions that it is pursuing a takeover.<\/p>\n
\n\u201cAegean has never proposed acquiring a majority stake in Volotea or taking control of its management,\u201d the Greek airline said, according to Kathimerini.<\/p>\n<\/blockquote>\n
The Greek carrier also stressed that Volotea is a privately owned company and that its management is responsible for providing information about its shareholder structure, operations and future plans.<\/p>\n
The clarification comes as attention remains focused on the relationship between the two airlines and the potential direction of Volotea as it works through its latest financial challenges.<\/p>\n
Aegean\u2019s existing investment makes it a significant shareholder, but the company\u2019s latest statement makes clear that it is not seeking a majority stake or management control<\/strong> of Volotea.<\/p>\n