Ryanair buys Malta Air startup to target African markets
Irish no-frills airline Ryanair said yesterday that it will buy Maltese startup Malta Air, forming a new division that reaches more markets in north Africa from the Mediterranean island. “Ryanair Holdings ... today announced it has agreed to purchase Malta Air,” the Dublin-based company said in a statement.
The Dublin-based company will move its Malta-based fleet of six Boeing 737 aircraft into the new subsidiary. Ryanair will seek to increase the division’s total fleet to ten aircraft over the next three years, creating some 350 jobs. The deal is expected to complete at the end of June.
Under group boss Michael O’Leary will be Ryanair DAC overseeing the Irish group’s main operations, Lauda for its Austrian-based business and Buzz, or Polish unit. Malta Air will now be the fourth division.