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Volotea is a Spanish low cost airline headquartered in Barcelona with bases in Spain, Italy and France. Volotea was stablished 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 one from the United States (CCMP Capital), whose chairman, Greg Brenneman, one-time President and COO of America’s Continental Airlines, also chairs Volotea’s board. The company raised over €50m before operations began.