The company achieved €8.3 million in operating profit, but the financial burden of the debt incurred during the pandemic meant it closed the year with a negative result of €3.3 million.
With an 81.5% occupancy rate, the company will reach its highest ever occupancy rate in 2024 and achieve significant growth in the number of flights and passengers.
Air Nostrum will pay €33.2 million in 2024 of its loans with the ICO and SEPI, as well as €17.7 million for EU emission rights.
VALENCIA, JULY 25, 2025
Air Nostrum posted revenue of €622 million in 2024, 15% more than the previous year. The airline achieved €8.3 million in operating profit, although, as a result of the financial burden of the debt incurred during the pandemic, it closed the year with a negative result of €3.3 million before taxes. The company's business activity has continued its growth path into 2024, with figures that, in many cases, exceed double digits. Thus, these €622 million in revenue represent a 15% increase compared to the previous year's turnover of €539 million.
In 2024, Air Nostrum broke its all-time occupancy record, reaching a load factor of 81.5%, exceeding the already record figures for 2023 by 3.1%. Thus, the company also managed to improve its passenger numbers in 2024, carrying a total of 5,537,969 passengers on its 46 aircraft, representing a 15% increase compared to the 4.8 million passengers who flew with the Valencian company in 2023.
It was also a record year in terms of the number of flights, with the airline operating a total of 79,473 routes in 2024, an increase of 11.5% compared to the previous year. The company operated an average of 217 daily flights, making it one of the busiest airlines in Spain.
Despite the strong increase in the number of operations and passengers and the historic load factor, the margin was weighed down by inflation, higher operating expenses, and increased variable maintenance costs as a result of rising prices in the supply chain.
However, the company has implemented a plan of measures focused on increasing the profitability of its operations with the goal of returning to profitability by 2025.
Debt Repayment
Furthermore, the airline has continued to meet its obligations regarding the repayment of loans contracted during the pandemic. In 2024, Air Nostrum has paid a total of €33.2 million, including the repayment of the principal on the loans granted by various banking institutions and guaranteed by the ICO (€19.9 million) and €13.3 million in interest payments on the aforementioned loans and the loan granted by the Spanish Industrial Holdings Company (SEPI) from the FASEE (Fund to Support the Solvency of Strategic Companies) funds.
Since the commitment to repay both loans was made by December 31, 2024, Air Nostrum has already repaid €55 million in amortization and €31 million in interest payments, for a total of €86 million in debt-related payments incurred as a result of the COVID-19 pandemic.
On the other hand, Air Nostrum has had to pay a total of €17.7 million in 2024 in the European Union's emissions trading tax (ETS), 10% more than in 2023.
Air Nostrum, a leading company
Air Nostrum is the leading regional aviation company in Spain and one of the largest European airlines of its kind. It operates for the Iberia Group under the Iberia Regional Air Nostrum brand. It connects 59 destinations in 9 countries across Europe and North Africa with its fleet of 46 new-generation aircraft. It has 1,500 employees. In its 30-year history, it has already transported more than 113 million passengers.
