Ávoris injects $14M into loss-making airline Iberojet, lifting internal aid to €84M
What's the deal? ÁvorisDealroom has a profile for this one. Try Dealroom → has extended a €12 million participatory loan to Spanish airline IberojetDealroom has a profile for this one. Try Dealroom →, formalised on December 31, 2025, and maturing in 2027. The tourism conglomerate, controlled by Grupo BarcelóDealroom has a profile for this one. Try Dealroom →, is shoring up the carrier's finances after a loss-making year.
By the numbers: The new loan brings total participatory debt granted by Ávoris to €84 million. That figure includes an additional €6 million loan and €66 million from the pandemic-era rescue extended to Ávoris.
Why now? Iberojet closed the last fiscal year with losses of €8.4 million and a negative net worth of €73.2 million. The participatory loans count as net worth under Spanish commercial law, which matters for rules on capital reduction and liquidation.
What happened in 2025? Iberojet returned to the red after a €692,000 profit in 2024, hit by aircraft incidents that grounded planes mainly between June and September. The problems raised operating costs by about €18 million.
The wider picture: Revenue still rose 10.2% to €314.4 million, but the gross operating result (Ebitda) turned negative at €7.7 million, down from a positive €4.7 million a year earlier. The conflict in the Middle East curbed the supply of third-party charter aircraft, blocking usual coverage of incidents and adding costs.
What could go wrong? The airline expects improving business prospects and cash flows to eventually cover its liabilities. It says "corrective and monitoring measures" have been implemented to reduce the chance the disruptions recur.
The signal: The support fits a longer pattern of losses at Iberojet, which bled €45.3 million in 2020 and €43.2 million in 2021 before narrowing to €22 million in 2022. Ávoris continues to backstop the carrier as it works to return to sustained profitability.
Image credit: bigpresh
