Volotea [boloˈtea] (stylised VOLOTEΛ) is a Spanish low-cost airline registered in Castrillón, Asturias, Spain, with bases in Spain, Italy, France and Greece. Volotea was established by Alaeo S.L. from Barcelona, a company created by former Vueling founders, Carlos Muñoz and Lázaro Ros. The name "Volotea" originates from the Spanish verb "revolotear," meaning "to fly around." It commenced operations on 5 April 2012, from Venice Marco Polo Airport. The company is backed by three private-equity funds, two of them from Europe (Axis Participaciones Empresariales and Corpfin Capital) and a third from the United States (CCMP Capital), whose chairman, Greg Brenneman, was one-time President and COO of the US airline Continental Airlines, and also chairs Volotea's board. The company raised over €50m before operations began. US CCMP Capital Partners holds 49% of voting rights; Axis and Corpfin Capital 25%; and Muñoz and Ros 26% along with relatives: this ownership has existed since foundation, but it could change before an initial public offering before 2021-2022. More information...
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