Ryanair has signed a binding agreement with Niki Lauda to develop the Austrian airline Laudamotion.
This is reported by TDN Finans. According to the agreement, Ryanair will buy a 24.9 percent stake in Laudamotion, but the stake will be increased to 75 percent "as quickly as possible" provided that the EU approves the deal.
The cost of the investment is expected to be under £50 million, but Ryanair will provide an additional £50 million to cover start-up and operating costs in the first year.
Source: Nyhetsbyrån Direkt
