The airline was established in 2005 and is the first cargo airline to operate from Italy with private Italian capital.
As of December 2008, Alis Aerolinee Italiane has acquired Cargoitalia to get the air operator certificate of the financially struggling cargo carrier. The AOC is a prerequisite for its bid for the cargo division of Alitalia that CAI is not interested in. Cargoitalia has since replaced its operations with its single DC-10-30F freighter and has laid off the majority of its staff.
In May 2009, the airline restarted operations with a single McDonnell Douglas MD-11F.
On 21 December 2011, the airline ceased operations again. 
^"Contacts." Cargoitalia. Retrieved on 18 January 2011. "Headquarter & Milan Office – Avioport Logistics Park Via del Gregge 100, 21015 Lonate Pozzolo (VA)" and "Registered Office Via Wittgens 3, 20123 Milano – Italy "