News: Ryanair investment in Laudamotion wins EU approval
Ryanair has welcomed the EU Commissions decision to approve its proposed acquisition of a 75 per cent interest in Laudamotion.
The Irish low-cost carrier currently owns 24.9 per cent of the Austrian airline.
Ryanair has entered into partnership with airline owner Niki Lauda to offer competition in the Austria, Germany, and Spain, aviation markets, the carrier said.
However, Laudamotion is currently under threat by Lufthansa who are attempting to remove the nine aircraft Lufthansa was obliged by the European Commission to provide to Laudamotion in order to allow Laudamotion to restart services, argued Ryanair.
The carrier said the move was the latest in a series of efforts by Germany airline to destabilise and damage Laudamotion.
Lufthansa fail to deliver two of the 11 aircraft they were required to under the EU Competition decision concerning Lufthansas acquisition of airberlin, Ryanair added in a statement.
Ryanair chief legal and regulatory officer, Juliusz Komorek said: “Ryanair remains committed to bringing competition, choice and low fares to the Austrian, German and Spanish markets through our investment in Laudamotion.
“We urge the EU competition authorities to take action and prevent any further attempts by Lufthansa to damage competition through its anti-consumer behaviour.”
Lufthansa Group also delay payment of over €1.5m of wet lease payments properly due to Laudamotion, for flights which Laudamotion operated for Lufthansa in March, April and May, Ryanair added.