Monday 24 June 2019

Ryanair takes full control of Austrian airline Laudamotion

LaudaMotion Business Desk Business Desk

Ryanair has taken full control of Austrian-based carrier Laudamotion.

Laudamotion, which was set up by former Formula 1 world champion Niki Lauda, said that Ryanair completed the purchase of 100pc of the shares in the new airline in late December.

It did not give financial details.

Ryanair had taken an initial 24.9pc stake in March and later increased that to 75pc.

The Austria Press Agency reported that Laudamotion chief executive Andreas Gruber told a news conference at Vienna Airport that Mr Lauda will continue to provide "input" to the airline after he sold his remaining stake.

Laudamotion said that it will now expand its fleet and recruit more pilots, cabin crew and engineers.

It plans to open new routes from its bases in Vienna, Stuttgart, Dusseldorf and Palma.

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