Madrid, June 25^th, 2024 –Volotea, the Spanish airline with the most extensive route network in Europe, and Abra Group, a leading airline consortium in Latin America, which includes companies such as Avianca and GOL, have announced a joint venture to develop commercial and operational opportunities together. The complementary nature of Volotea's short-haul operations and Abra Group airlines' long-haul and intra-Americas services make this alliance a comprehensive solution, positioning it as the best alternative to act as a ‘remedy taker’ in the merger between IAG and Air Europa, offering European and Latin American consumers more alternatives at better prices.

This strategic agreement between Volotea and Abra Group aims to facilitate short and long-haul connections and strengthen Spain's connectivity with Europe, the Americas, the Caribbean, and the rest of the world. The solution proposed by both companies is an efficient and flexible plan that ensures Volotea's passengers can arrive at Madrid Airport from the airline's various bases and operational cities across Europe and the Middle East, providing them with access to intercontinental flights marketed by Abra’s airlines, along with their extensive networks in the Americas and the Caribbean.

This alliance, presented as a clear and competitive alternative, guarantees an enhanced, high-quality service that will aid in consolidating Madrid as a hub for national, international, and intercontinental air routes and will contribute to reinforcing Spain's position as a destination. Furthermore, this measure will allow Madrid to have another operator, ensuring competition on routes to and from the Americas, attracting passengers from Europe to Latin America, North America, and the Caribbean, and boosting tourism in the reverse direction. The commercialization will be carried out through various distribution channels, ensuring broad dissemination and access to the services offered, with more than 30 destinations within Europe and over 130 in the Americas.

This alliance will optimize connectivity options to benefit millions of passengers by integrating Volotea's European routes with Abra's destinations in Latin America, North America, and the Caribbean. It will also ensure a constant flow of travelers and offer a coordinated, unified, high-quality experience at competitive prices. If the IAG and Air Europa merger is approved and Volotea and Abra Group are designated as 'remedy takers,' Volotea will establish a base of operations in Madrid with approximately 20 aircraft to service all short-haul routes.

Carlos Muñoz, Founder and CEO of Volotea, said: “We are very happy to announce this historic and groundbreaking joint venture agreement between our two companies today. Abra Group, with Avianca and GOL airlines, is one of the two leading groups in Latin America, and combining their strength with our network of over 450 routes in Europe will provide great opportunities for all European and Latin American consumers. This alliance will not only strengthen our operations but also allow us to offer better service to our passengers, contribute to economic growth, and improve connectivity between different regions, always through Madrid. This agreement is just a first step, and both companies are committed to growing in the medium and long term, as well as in destinations and flights, providing customers with more and better options.”

Adrian Neuhauser, CEO of Abra Group, stated: “The joint venture we are presenting today is a distinctive solution that will benefit millions of travelers with an expanded network, a unified product, quality service, and competitive prices. Through Avianca and GOL, we will offer more than 250 aircraft, more than 130 destinations, and leading loyalty programs like LifeMiles and Smiles across two continents, further leveraging the strategic investment we have announced in Wamos Air. Our strong presence in North America, Latin America, and the Caribbean, combined with Volotea's extensive reach, will undoubtedly improve connectivity between the Americas and Europe.”

Volotea closed the last fiscal year with a revenue of €694 million, 24.6% higher than the previous year. For 2024, revenue is expected to exceed €800 million, making it the most profitable year in the company's history. The company anticipates transporting around 12 million passengers this year, offering more than 450 routes across 18 European countries.

Meanwhile, Abra Group transports more than 62 million passengers annually with a fleet of over 250 aircraft—including single-aisle, wide-body, and freighters—connecting to more than 130 destinations in over 25 countries across the Americas and Europe, generating around €8 billion in annual revenue.

ABOUT VOLOTEA

Volotea was founded in 2011 by Carlos Muñoz and Lázaro Ros, also previously founders of Vueling. It is one of the fastest-growing independent airlines in Europe in the last decade. Every year, the carrier increases its fleet, routes served, and seats offered. This year, the airline celebrated a milestone of carrying 60 million passengers throughout its network. Volotea reaches 110 airports and is based in 21 medium-sized European capitals. This year, Volotea will operate nearly 450 routes (with over half exclusive), offer between 12.5M and 13M seats (+12% to +16% versus 2023), and fly approximately 80,000 flights. The airline operates a fleet of 44 Airbus A319 and A320, and has a workforce of more than 2,100 employees. Volotea was awarded a four-star rating in 2024 and recognized by Skytrax in its global passenger satisfaction survey as the “Best Low-Cost Airline in Europe” at the 2023 World Airline Awards. The airline adds these accolades to its growing list of achievements, which includes consecutive wins for "Europe’s Leading Low-Cost Airline" at the World Travel Awards in 2021, 2022, and 2024.

ABOUT ABRA GROUP

Abra Group, based in the United Kingdom, is one of the largest and most competitive air transport groups in Latin America. Abra brings together the iconic brands of Avianca and GOL under a single leadership, anchoring a Latin American airline network that has one of the lowest unit costs in their respective markets, the leading loyalty programs in the region (LifeMiles and Smiles), and other synergistic businesses. Additionally, it recently announced its intention to make a strategic investment in Wamos Air in Spain (subject to regulatory approval). Abra Group consolidates a team of 28,000 highly qualified aviation professionals and a fleet of more than 250 aircraft serving 25 countries and 150 destinations. For more information: www.abragroup.net

ABOUT AVIANCA

Avianca includes Avianca (a Star Alliance member), LifeMiles, and Avianca Cargo. In passenger transport, Avianca, with over 104 years of operation since 1919, is the second oldest airline in the world currently in operation, and the leading airline in Colombia, Ecuador, and Central America. It has one of the largest airline operations in Latin America with 150 routes, nearly 700 daily flights, and a fleet of 147 Airbus 320 and Boeing 787 Dreamliner aircraft, connecting to more than 76 destinations in 26 countries across the Americas and Europe. In 2023, Avianca ranked first in the “Global Airlines” category in the on-time performance index by the specialized consultancy Cirium and transported more than 32 million customers with the operation of over 213,000 flights. Its loyalty program, LifeMiles, is one of the largest in Latin America with over 12 million members and 600 allied brands. In cargo transport, Avianca Cargo is a leader in the region and the main operator in various markets in the Americas. For more information: www.avianca.com.

ABOUT GOL

GOL is Brazil's largest airline, leading in both corporate and leisure segments. Since its founding in 2001, it has maintained the lowest unit cost in Latin America, which has helped democratize air travel. The company has partnerships with American Airlines and Air France-KLM, offering its customers various codeshare and interline agreements, making it easier and more convenient to connect to any destination served by these alliances. With the goal of "Being the First for Everyone," GOL provides the best travel experience for its passengers, including the widest range of seats with more space; the most comprehensive platform with internet, movies, and live TV; and the best loyalty program, Smiles. In cargo transportation, GOLLOG enables package delivery to various regions in Brazil and abroad. The company has a team of 13,700 highly qualified aviation professionals focused on safety, GOL's number one value, and operates a standardized fleet of 142 Boeing 737 aircraft.

Volotea Press:

For more information visit: https://www.volotea.com/en/press-room/

Maritza Leal - press@volotea.com / maritza.leal@volotea.com

Tel: 93 117 17 77

Abra Group Press: info@abragroup.net

Avianca Press: Lina María Guevara - Lina.guevara@avianca.com