C.A.I. Second
Italian airline operating entity created by Alitalia-CAI to preserve airport slots and conduct branded and unbranded airline operations.
Last updated August 31, 2026
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Overview
C.A.I. Second was an Italian airline operating company associated with the Volare and Volareweb brands and ultimately controlled by Alitalia - Compagnia Aerea Italiana. The entity was created during the restructuring of Italy’s airline sector after the collapse and reorganization of the former Alitalia and the acquisition of Volare’s assets. Although it was legally an airline company, its public identity changed over time: it first inherited the Volare and Volareweb activities, then became an operational vehicle for Alitalia, and eventually disappeared through integration into Alitalia-Società Aerea Italiana. The business that preceded C.A.I. Second began with Volare Airlines, established in the late 1990s by Gino Zoccai and former military pilot Vincenzo Soddu with support from the tour operator Brevitour. Volare began charter flying in April 1998 from Bergamo and Milan-Malpensa. After Swissair’s Sair Group acquired a minority interest, scheduled services began in 1999. Volare expanded rapidly, including through the 2000 acquisition of Air Europe, creating the Volare Group. At its height, the group connected Italy with numerous European destinations and operated both scheduled and charter services, including long-haul holiday flying. The September 11, 2001 attacks and the resulting crisis in global aviation contributed to the collapse of Swissair, the withdrawal and repurchase of its Volare interest, and increasing financial pressure on the Italian group. Volare attempted to reposition its scheduled business as a low-cost carrier under the Volareweb name in 2003. Financial and fleet-access problems nevertheless culminated in the suspension of operations and bankruptcy proceedings in November 2004. Volare Group, Volare Airlines, and Air Europe entered Italy’s extraordinary administration process for large insolvent companies. Operations later resumed on a limited basis while the assets were prepared for sale. Alitalia won the 2006 sale of the Volare Group. Volare S.p.A., Volareweb, and Air Europe were consolidated under a common air operator certificate, and the workforce was transferred to Volare S.p.A. The business was used as a low-fare platform within Alitalia, with renewed flying from Milan-Malpensa and a network that reached approximately 20 European destinations by 2008. The company’s role changed again when Alitalia altered its network strategy, moved emphasis from Milan-Malpensa to Rome-Fiumicino, and reorganized its low-cost activities around Air One. In January 2009, Alitalia-CAI acquired the remaining Volare assets and air operator certificate through C.A.I. Second, a legal entity that retained valuable operating slots at Milan Linate Airport. The last flight in Volareweb colors operated on January 12, 2009. Thereafter, C.A.I. Second did not operate as a consumer-facing Volare airline: it was used for Alitalia flights, which carried Alitalia branding and did not present C.A.I. Second as a separate public airline. Volare’s former code was used on certain services, partly to support the allocation of flights at Milan Linate under the airport’s operating constraints. C.A.I. Second ultimately became a non-operational corporate vehicle. It was dissolved and merged into Alitalia-Società Aerea Italiana in February 2015. The relevant brand history therefore spans two related but distinct phases: Volare’s original charter, scheduled, low-cost, and holiday-airline activities; and C.A.I. Second’s later legal and slot-preservation role inside the reorganized Alitalia group.
History
Volare Airlines emerged in northern Italy at the end of 1997 and the beginning of 1998. Gino Zoccai and former military pilot Vincenzo Soddu developed the company with initial support from Brevitour, a tour operator focused on religious tourism. The airline began charter services on April 3, 1998, from Bergamo and Milan-Malpensa. On August 28, 1998, Sair Group, the airline holding company associated with Swissair, acquired a 34 percent stake. This investment helped Volare start scheduled services on May 15, 1999, including flights between Italian cities and Cagliari in Sardinia. In 2000, Volare and its partners acquired Air Europe, then a significant Italian charter carrier. The transaction created the Volare Group, with headquarters in Thiene and management and charter offices in Milan. The group expanded its network from Italy to destinations in the United Kingdom, Spain, Germany, France, Belgium, Poland, the Czech Republic, Estonia, and Romania. It operated a mixture of scheduled short-haul services and charter flights, while Air Europe retained a strong role in holiday and long-haul flying. The aviation downturn following the September 11, 2001 attacks placed additional pressure on the group. Swissair collapsed, and its Volare shares were bought back by Zoccai. The company’s debt burden continued to grow, however, and ownership control was subsequently diluted or surrendered as the business sought financial support. In 2003, management attempted to reposition the scheduled operation as an Italian low-cost carrier. The Volareweb name was introduced for the summer schedule, with Airbus A320 and A321 aircraft used on the network. The repositioning did not resolve the company’s financial and operational problems. Liquidity deteriorated, while aircraft became unavailable because leases expired or owners repossessed aircraft. On November 19, 2004, Volare Group and its airline subsidiaries suspended operations and sought bankruptcy protection. On November 30, Volare Group, Volare Airlines, and Air Europe were placed into Italy’s extraordinary administration procedure for large insolvent companies. The Italian government arranged a sale process, and extraordinary commissioner Carlo Rinaldini reported on the causes of the insolvency. Limited operations resumed during 2005 with two Airbus A320s in Volareweb colors and a Boeing 767-300ER associated with Air Europe. The group remained under restructuring while bids were considered. Alitalia won the sale in April 2006 with a bid reported in the reference material as €38 million. Volare S.p.A. was retained within the Alitalia structure, and Volareweb and Air Europe were brought under a common air operator certificate. Employees were transferred to Volare S.p.A. in May 2006. A relaunch followed in 2007. Two Airbus A320s were added, the low-cost network was strengthened from Milan-Malpensa, and Milan-Linate services were removed from the Volare network. By May 2008, Volare was reported to serve about 20 European destinations, while Air Europe continued selected long-haul charter work. Volareweb was an Alitalia low-cost subsidiary from January 2008. Later network changes at Alitalia, including the shift of its principal hub emphasis from Milan-Malpensa to Rome-Fiumicino and the integration of Air One, reduced Volare’s independent scheduled role. Scheduled flying was scaled back in November 2008, and the final Air Europe charter operated in December. During the 2008–2009 Alitalia restructuring, Volare S.p.A. entered extraordinary administration alongside the former Alitalia. Sales of remaining Volareweb flights were suspended on January 9, 2009, with passengers advised that later services would be operated by Alitalia or Air One. On January 13, Alitalia-CAI acquired the remaining Volare assets and air operator certificate through C.A.I. Second. C.A.I. Second was effectively a legal and operational shell: it no longer presented a separate public livery or independently staffed airline, but helped preserve and administer valuable airport slots, particularly at Milan Linate. The Volareweb-branded era ended with the January 12, 2009 flight from Brindisi to Milan-Malpensa. C.A.I. Second subsequently supported Alitalia-branded operations, with the Volare code appearing on some services. The entity ceased to have an independent operating identity and was finally dissolved and merged into Alitalia-Società Aerea Italiana in February 2015.
- 2015
Final integration into Alitalia
[1]C.A.I. Second is dissolved and merged into Alitalia-Società Aerea Italiana.
- 2009
C.A.I. Second assumes the legal operating role
[1]Alitalia-CAI uses C.A.I. Second to hold Volare assets and the air operator certificate while preserving Milan Linate slots.
- 2006
Alitalia acquisition
[1]Alitalia acquires the Volare Group through a government-supervised sale.
- 2004
Operations suspended
[1]Financial distress and fleet unavailability lead to suspension of operations and extraordinary administration.
- 2003
Volareweb low-cost repositioning
[1]The scheduled airline is repositioned toward low-cost operations under the Volareweb name.
- 2000
Air Europe acquisition
[1]Volare’s acquisition of Air Europe creates the Volare Group.
- 1999
Scheduled services begin
[1]The airline starts scheduled flying, including services linking Milan and Rome with Sardinia.
- 1998
First charter flights
[1]Volare begins charter operations from Bergamo and Milan-Malpensa.
- 1997
Volare is established
[1]The foundations of Volare Airlines are laid in Italy by Gino Zoccai and Vincenzo Soddu with support from Brevitour.
Products and positioning
The predecessor Volare business combined charter aviation, scheduled domestic and European flying, and a later low-cost proposition under Volareweb. C.A.I. Second itself was primarily an internal Alitalia operating and corporate vehicle rather than an independently marketed consumer brand.
Low-cost passenger airline · 2003
Volareweb scheduled services
Volareweb was the low-cost identity introduced for Volare’s scheduled business in 2003. It operated Airbus A320-family aircraft on domestic and European routes, particularly from Milan-Malpensa. Its destination network included Italian cities and points across Western, Central, and Northern Europe. The brand remained visible until the last flight in Volareweb colors in January 2009.
Charter passenger airline · 1998
Volare Airlines charter services
Volare began as a charter operator serving tourism and religious-travel demand. Its operations used narrow-body Airbus aircraft for short- and medium-haul routes and, through the wider Volare Group and Air Europe businesses, included long-haul holiday flying to destinations in Africa, the Indian Ocean, and the Caribbean.
Airline operating entity · 2009
Alitalia-operated services under C.A.I. Second
After January 2009, C.A.I. Second was no longer marketed as an independent Volare carrier. It functioned as a legal and operational vehicle for Alitalia-branded flights and helped preserve airport slots, especially at Milan Linate. The entity did not maintain a separate consumer-facing livery or independent airline proposition.
Brand decisions
2009
Transition from Volare brand to C.A.I. SecondStrategyBackground
The reorganization of Alitalia and the integration of Air One required a legal structure capable of retaining Volare assets and airport slots.
Action taken
Alitalia-CAI acquired the remaining Volare assets and air operator certificate through C.A.I. Second and used the entity for Alitalia-branded operations.
Aftermath
Volareweb ceased to operate as a public airline, while C.A.I. Second continued as a non-public operating vehicle until its 2015 merger into Alitalia.
2006
Alitalia purchases Volare Group assetsM&ABackground
Volare Group was being sold through Italy’s extraordinary administration process after its 2004 insolvency.
Action taken
Alitalia won the sale and incorporated Volare’s businesses, including Volareweb and Air Europe, into its group.
Aftermath
The businesses resumed limited growth within Alitalia, although their independent identity was later reduced during the Alitalia-CAI restructuring.
Winning bid. €38 million bid reported for the acquisition (2006)
2003
Repositioning as a low-cost carrierStrategyBackground
Volare sought to respond to competitive and financial pressure by changing its scheduled-airline proposition.
Action taken
The company introduced the Volareweb identity and operated Airbus A320 and A321 aircraft in a low-cost network.
Aftermath
The repositioning provided a new market identity but did not prevent the liquidity crisis and operational suspension of 2004.
Recent events
- 2015
C.A.I. Second is dissolved into Alitalia[1]
M&A
The non-operational entity was dissolved and its activities were integrated into Alitalia-Società Aerea Italiana.
- 2009
Last flight in Volareweb colors[1]
Other
The final flight using Volareweb livery operated on the Brindisi-Milan-Malpensa route on January 12, after which the business was used under Alitalia’s operating structure.
- 2006
Alitalia acquires the Volare Group[1]
M&A
Alitalia won the government-supervised sale of the Volare Group, bringing Volare, Volareweb, and Air Europe into its corporate structure.
- 2004
Volare suspends operations and enters insolvency proceedings[1]
Bankruptcy
Severe financial problems, fleet shortages, and creditor actions led Volare Group, Volare Airlines, and Air Europe to suspend operations and enter extraordinary administration.
- 2000
Volare Group acquires Air Europe[1]
M&A
The acquisition created a two-airline group combining Volare’s scheduled and charter activities with Air Europe’s holiday-flight business.
- 1998
Volare begins charter operations[1]
Other
The predecessor Volare Airlines operated its first charter flights from Bergamo and Milan-Malpensa.
- 1998
Sair Group takes a minority stake in Volare[1]
M&A
Swissair’s airline group acquired a 34 percent interest, supporting Volare’s transition into scheduled flying.
Sources2 sources
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