Volotea restructures after $150M Iran impact, cuts capacity 20%

Spanish airline Volotea is undergoing a full restructuring after suffering a $150 million impact from Iran, renegotiating debt, finalizing a capital increase, cutting capacity by over 20%, and laying off 50 staff in Barcelona. The company is fighting for continuity, indicating severe financial distress. This signals broader stress in the European aviation sector from geopolitical disruptions.