Source: Beta | Wednesday, 21.03.2018.| 12:37
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Ryanair takes over part of Lauda's airline

Illustration (Photo: Rebius/shutterstock.com)
The low-cost airline Ryanair announced on March 20 that it would acquire an initial 24.9% stake in LaudaMotion, founded by former Formula 1 driver Niki Lauda.

Ryanair plans to raise its share to 75%.

LaudaMotion is a successor to Niki, a long-term branch of the now bankrupt Air Berlin, which Lauda bought after Niki became a victim of the umbrella company's financial problems. The company plans to start a range of scheduled and charter services from Germany, Austria and Switzerland primarily to Mediterranean leisure destinations.

Ryanair announced that it looked to increase its share to 75% “as soon as possible”, if approved by the EU.

The press release says that cost of this 75% investment in LaudaMotion will be less than EUR 50 million, although Ryanair will provide an additional EUR 50 million for year 1 start up and operating costs.

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