Blueprint
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the
month of March 2018
RYANAIR HOLDINGS PLC
(Translation
of registrant's name into English)
c/o Ryanair Ltd Corporate Head Office
Dublin
Airport
County Dublin Ireland
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file
annual
reports
under cover Form 20-F or Form 40-F.
Form
20-F..X.. Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities
Exchange
Act of
1934.
Yes
No ..X..
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in
connection with Rule 12g3-2(b): 82- ________
RYANAIR TO PARTNER WITH NIKI LAUDA TO DEVELOP LAUDAMOTION AIRLINE
IN AUSTRIA
RYANAIR TO ACQUIRE 75% SUBJECT TO EU COMPETITION
APPROVAL
Ryanair
Holdings Plc today (20 Mar) announced that it has entered into a
binding agreement with Mr Niki Lauda to support his plan to develop
and grow LaudaMotion GmbH, an Austrian Airline based in
Vienna.
LaudaMotion
is an Austrian AOC holder owned by Niki Lauda, which has recently
acquired many of the assets, including A320 aircraft, of the former
Niki Airline, and will shortly start a range of scheduled and
charter services from Germany, Austria and Switzerland primarily to
Mediterranean leisure destinations.
Under
this agreement Ryanair will acquire an initial 24.9% stake in
LaudaMotion and this will rise as soon as possible to 75% subject
to EU Competition approval. Niki Lauda will chair the Board of the
airline and oversee the implementation of his strategy to build a
successful Austrian low fares airline. Ryanair will provide
financial and management support to LaudaMotion as well as 6
wet-lease aircraft for S2018 to enable LaudaMotion to complete an
extensive 21 aircraft flying program.
The
cost of this 75% investment in LaudaMotion (if approved by the EU)
will be less than €50m although Ryanair will provide an
additional €50m for year 1 start up and operating costs. Both
Mr Lauda and Ryanair will work with the existing management team of
LaudaMotion and expect the airline to reach profitability by year 3
of operations if their plan to grow the business to a fleet of at
least 30 Airbus aircraft is successful.
This
partnership provides job security, career opportunities and growth
in employment in all activities of LaudaMotion, such as cockpit and
cabin crew, maintenance and administration, and will allow
consumers and visitors to benefit from strong competition, leading
to more choices and lower fares.
Ryanair's Michael O'Leary said:
"We look forward to working in partnership with Niki Lauda to
successfully develop his vision for a successful Austrian low fares
airline to service the schedule and charter markets. The
LaudaMotion AOC will support a fleet of Airbus aircraft which is
something we have hoped to develop within the Ryanair Group for
some years.
LaudaMotion will benefit from this partnership between Niki Lauda
and Ryanair. With access to the Ryanair fleet and financial
resources, LaudaMotion will now grow more rapidly, as it seeks to
compete in a market which is dominated by Lufthansa's high airfares
with its Swiss and Austrian subsidiaries.
This LaudaMotion partnership is good news for Austrian and German
consumers/visitors who can now look forward to real competition,
more choice and lower fares. It is also great news for
LaudaMotion's people who can look forward to improved job security
and more promotional opportunities in Vienna and other bases as we
work with Niki Lauda and his team to accelerate growth of
LaudaMotion - Austria's low fares airline."
Niki Lauda, Chairman of LaudaMotion said:
"I have always stood up for competition and have opposed
monopolies. Therefore I am thrilled that in the partnership with
Ryanair, LaudaMotion will be able to establish itself as a strong
competitor and to grow quickly and sustainably. A new player in the
aviation market is born and I am looking forward to offering our
passengers an extensive route portfolio at competitive air
fares."
ENDS
For further information
please
contact:
Robin Kiely
Piaras Kelly
Ryanair
DAC
Edelman Ireland
Tel:
+353-1-9451949
Tel: +353-1-6789 333
press@ryanair.com
ryanair@edelman.com
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.
Date: 20
March, 2018
|
|
By:___/s/
Juliusz Komorek____
|
|
|
|
|
|
Juliusz
Komorek
|
|
|
Company
Secretary
|