Italian low-cost airline Wind Jet has ceased operations leaving hundreds of passengers stranded overseas.

The cash-strapped budget carrier is based in Passo Martino, Catania, Italy, and was founded in 2003.

Following the cancellation of all flights last night some 200 Israeli nationals were left stranded at Fiumicino airport in Rome.

As many as six other flights were also cancelled out of Italy.

The Sicily-based firm is now expected to lose its operating licence after takeover talks with Alitalia failed.

As many as 300,000 passengers across Italy have booked tickets with the airline in the coming weeks.