Source: Beta | Wednesday, 21.03.2018.| 12:37
Highlight an article Print out the news

Ryanair takes over part of Lauda's airline

Illustration
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.

Only logged-in users can comment.
Follow the news, tenders, grants, legal regulations and reports on our portal.
Testiraj besplatno!
Register for our daily business bulletin, which is sent to your email address at the end of each work day.
Full information is available only to commercial users-subscribers and it is necessary to log in.
Test for free!
Testiraj besplatno!
Full information is available to commercial users-subscribers only.
Testiraj besplatno!

Log in to view complete information:
Forgot your password? Click here HERE
For free test use, click HERE