CCMP, Axis and Corpfin back Volotea

Following the transaction, CCMP owns 49% of the company, Axis and Corpfin hold a 25% stake and the company's founders, Carlos Munos and Lazaro Ros have a 26% share.

The company is set to begin operations on April 5th from Venice.

Company
Based in Barcelona, Volotea aims to connect small and mid-sized European cities that are not currently well-served by direct flights, operating 125-seat coach class Boeing 717s. The company's founders, Carlos Munos and Lazaro Ros, are co-founders and continued stakeholders of low-cost carrier Vueling Airlines, now owned by International Airlines Group. Volotea may employ up to 20 former Spanair employees.

People
Greg Brenneman, former president and COO of Continental Airlines, is chairman of CCMP Capital. Emilio Ramos Gorostiza is operations director at Axis. Felipe Oriol is president and founder of Corpfin Capital.

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