11th Jun 2019 13:42
(Alliance News) - Ryanair Holdings PLC on Tuesday said it agreed to buy start up airline Malta Air to grow its Malta-based fleet of six B737 aircraft and access non-EU markets, such as North Africa.
The Irish budget airline said it expects to complete the transaction by the end of June.
Ryanair said it plans to transfer 200 Malta-based crew onto local contracts and create over 350 jobs by increasing its Malta based fleet to 10 aircraft within three years.
"Malta Air will proudly fly the Maltese name and flag to over 60 destinations across Europe and North Africa as we look to grow our Maltese based fleet, routes, traffic and jobs over the next three years," said Ryanair Chief Executive Michael O'Leary.
The company did not disclose any financial details of the deal.
Ryanair shares were trading 0.1% lower on Tuesday at EUR10.54 each in London.
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