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Jaunty milk-factory leader goes missing (4)

Ross

I believe the answer is:

airy

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'jaunty' is the definition.
(I've seen this in another clue)

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for airy that I've seen before include "Sprightly" , "Well-ventilated; casual" , "Delicate, casual" , "(Of ideas) speculative" , "Spacious; delicate" .)

I've seen this clue in the Sydney Morning Herald.
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