The low-cost Irish airline Ryanair has acquired Austrian Laudammuseum, founded by former Formula 1 champion Nicki Lauda, according to DPA, quoted by mediapool.bg. Despite the acquisition, Niki Lauda will hold a seat at the Laudamouchons Council, company president Andreas Gruber told a news conference at Vienna International Airport.
Laudammonsyn said today that Ryanair has completed the acquisition of 100 percent of the shares of the new airline by the end of December. Financial details are not provided. Ryanair gained an initial 24.9% stake in March and then increased its stake to 75%.
Niki Lauda founded Niki in 2003. In 2011, he sold to Air Berlin, the DPA recalls. After the bankruptcy of Air Berlin, he bought last year, Laudamouchon called and sold to Ryanair. Laudamomania was losing about 140 million euros ($ 160 million) last year.
Gruber said he expects the loss to fall to 50 million euros by 2019, and next year the company will be profitable. Laudamouching, which mainly flies to European airports, also announced plans to double its fleet to 40 aircraft by 2021/2022. The annual number of passengers will increase to 10 million by then, compared with 4 million last year.