CCMP, Axis, Corpfin pump further €10.5m into Volotea

In February 2012, CCMP Capital, Axis Participaciones Empresariales and Corpfin Capital contributed to a €50m growth capital round designed to support the launch of the firm. CCMP took a 49% stake, Axis and Corpfin acquired a 25% stake and the company's founders, Carlos Munos and Lazaro Ros retained 26% of the firm.

The three backers participated in the latest funding round. The shareholding structure will not change following the transaction.

Company
Based in Barcelona, Volotea aims to connect small and medium-sized European cities that are not currently well-served by direct flights, operating 125-seat coach-class Boeing 717s. The firm's core markets are Italy, France and Spain, with further operations in Germany, Croatia, Greece and the Czech Republic.

Volotea operates 108 routes from 55 cities and began service in April 2012. The firm expects to achieve a turnover of €120m this year, up from €45m in 2012.

Volotea's founders, Carlos Munos and Lazaro Ros, are also co-founders and continued stakeholders of low-cost carrier Vueling Airlines, now owned by International Airlines Group.

People
Emilio Ramos Gorostiza is operations director at Axis. Felipe Oriol is president and founder of Corpfin.

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• Topics
• Southern Europe
• Consumer
• Expansion
• Spain
• Axis Participaciones Empresariales
• Corpfin Capital