26 MARCH 2018

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Article from BTNews 26 MARCH 2018

Ryanair buys into Laudamotion

A 24.9% stake in Niki Lauda’s fledgling Austrian carrier Laudamotion (BTN last week), rising to 75% subject to EU approval, has been announced by Ryanair. The Irish airline is also giving €50m for start-up and first-year operating costs.

The initial funding includes management support and Ryanair says it will also wet-lease six aircraft to LaudaMotion for its summer flight schedule.

A Ryanair statement said former F1 driver Lauda will chair the new airline’s board and oversee the “implementation of his strategy to build a successful Austrian low-fares airline”.

Lauda, a champion of competition and opposed to monopolies, said the partnership with Ryanair would enable his new airline to establish itself as a strong competitor and to grow quickly and sustainably with an extensive route network and competitive fares.

Ryanair chief executive Michael O’Leary said: “With access to the Ryanair fleet and financial resources, LaudaMotion will now grow more rapidly as it seeks to compete in a market dominated by Lufthansa’s high airfares with its Swiss and Austrian subsidiaries.”

Laudamotion will launch with a fleet of Airbus A320s acquired as part of its takeover of bankrupt German carrier Air Berlin’s Niki leisure airline.

www.laudamotion.com

www.ryanair.com

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