Wind Jet was Italy's biggest low-cost airline — then 300,000 passengers were stranded

Wind Jet was founded in January 2003 by Antonino Pulvirenti in Catania, Sicily, as an Italian low-cost airline. It grew rapidly, carrying nearly 1 million passengers in its first year, and by 2008 it was Italy's leading low-cost carrier with 2.9 million passengers and a fleet of 12 Airbus A319 and A320 aircraft. The airline operated from its main hub at Catania-Fontanarossa Airport, with secondary bases in Palermo and Rimini, and flew to destinations across Europe.

The growth was built on a fragile foundation. Wind Jet expanded beyond its means, and rising fuel costs squeezed margins. The company paid €10 million to purchase the Wind Jet brand from its parent company Meridi, an internal transaction that drained cash without adding operational value. By early 2012 the airline was in financial distress and had temporarily laid off over 500 employees.

In January 2012, Alitalia expressed interest in acquiring Wind Jet, and by April had offered €20–30 million in cash. The Italian antitrust authority approved the deal in late July but required Alitalia to give up slots on key domestic routes. Alitalia walked away from the deal on August 10, 2012. The next day, Wind Jet suspended all flights, stranding approximately 300,000 passengers with existing reservations. The airline never resumed operations.

In 2013, creditors approved a restructuring plan that would repay 48% of debts to privileged creditors and 5% to others. The legal aftermath was more severe: in July 2015, 14 people including top management were placed under investigation for fraudulent bankruptcy. Founder Antonino Pulvirenti and CEO Stefano Rantuccio were arrested on January 29, 2016, accused of aggravating the airline's financial crisis by over €160 million through fraudulent operations dating back to 2005.