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Ryanair buys Laudamotion airline

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Budget airline Ryanair has taken full control of Laudamotion, an Austrian-based carrier set up by former Formula 1 world champion Niki Lauda.

Laudamotion said on Tuesday that Ryanair completed the purchase of 100% of the shares in the new airline in late December.

It did not give financial details.

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

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.

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