 It was majority-owned by the Volante company, itself controlled by Niki Lauda, former Formula One world motor racing champion, while Gruppo Ventaglio owned the remaining shares.On 31 March 2003, Gruppo Ventaglio purchased Volante's share and integrated Lauda Air Italy with the airline Livingston under the parent company Livingston Aviation Group.Livingston had been established on 13 January 2003 and started operations in May 2003.