Ryanair acquires 100% ownership of LaudaMotion
Ryanair has gained complete ownership of LaudaMotion with the acquisition of the 25% stake in the Austrian LCC held by its founder, former Formula 1 driver Niki Lauda. The transaction was completed Dec 31, 2018; Ryanair had previously acquired a 75% stake in LaudaMotion. Lauda will remain as chairman of the subsidiary’s shareholders committee, Ryanair CE Michael O’Leary said. The airline had estimated losses of E140m (US$160m) in its first year, and losses of E50m are possible in 2019, O’Leary said. “The target is to deliver 6m passengers this year and not to break even. We will fund those losses,” he said. “This also depends on summer fares. But we also need better punctuality, which will again be difficult this year.” In the summer, the carrier will operate 21 Airbus A320s and 4 Boeing 737-800s wet-leased from Ryanair. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-01-30/unaligned/ryanair-acquires-100-ownership-of-laudamotion
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Ryanair acquires 100% ownership of LaudaMotion
Ryanair has gained complete ownership of LaudaMotion with the acquisition of the 25% stake in the Austrian LCC held by its founder, former Formula 1 driver Niki Lauda. The transaction was completed Dec 31, 2018; Ryanair had previously acquired a 75% stake in LaudaMotion. Lauda will remain as chairman of the subsidiary’s shareholders committee, Ryanair CE Michael O’Leary said. The airline had estimated losses of E140m (US$160m) in its first year, and losses of E50m are possible in 2019, O’Leary said. “The target is to deliver 6m passengers this year and not to break even. We will fund those losses,” he said. “This also depends on summer fares. But we also need better punctuality, which will again be difficult this year.” In the summer, the carrier will operate 21 Airbus A320s and 4 Boeing 737-800s wet-leased from Ryanair. <br/>
