Volotea Raises Funds as Part of Post-Covid Recovery

Paul, Weiss advised Barcelona-based privately owned airline Volotea, S.L. on its €200 million ($214 million) loan from the Spanish government’s Solvency Support Fund (Fondo de Apoyo a la Solvencia de Empresas Estratégicas, also known as the SEPI Fund). Paul, Weiss also advised Volotea in a parallel agreement with Volotea shareholders to provide an additional €10 million in cash. The SEPI Fund loan was intended to help support Volotea in its post-Covid recovery.

Volotea operates routes between Spain, Greece, Italy and France. With a focus on sustainability and developing emission-free alternative technologies, the airline was named Europe’s “Leading Low-Cost Airline” at the 2021 World Travel Awards.

The Paul, Weiss team included, among others, corporate partners John Scott and Brad Okun.