Last day I published a news story about MALTA AIR, a start up airline based in Malta. Market rumors indicated that it was a subsidiary of RYANAIR. But Irish officials have announced that they have acquired the new Maltese company.
Ryanair Holdings announced on 11 in June that it has approved the acquisition of Malta Air, a start-up airline based in Malta. It will take over and grow the Ryanair fleet of 6 B737 aircraft based in Malta.
MALTA AIR is officially taking off
This investment in Malta Air will allow Ryanair to further increase its already significant presence in Malta (3 million customers per year), and gain access to Malta's non-EU (North Africa) markets.
The completion is scheduled for the end of June, after which Ryanair Holding will carry out the following:
- Transfer of the 6 aircraft allocated to the Malta base (worth 600 million) in the Maltese registry
- 200 crew members from Malta will be transferred to local contracts and will pay Maltese local taxes
- Malta's fleet will increase at 10 aircraft over the next three years, creating over 350 jobs
- Malta Air's fleet brand will wear the colors of Malta for the 2020 Summer
- Transferring aircraft allocated to bases in France, Italy and Germany under the Maltese AOC, which will allow crews to pay local taxes in France, Italy and Germany, instead of Ireland, where they have to pay their current income taxes, as a result of Ryanair registration with the Irish AOC.
Speaking in Malta today, Ryanair CEO Michael O'Leary said:
- "Ryanair is pleased to welcome Malta Air to Ryanair Group, the group of airlines that now includes Buzz (Poland), Lauda (Austria), Malta Air, and Ryanair (Ireland).
- Malta Air will proudly fly Malta's name and flag to over 60 destinations in Europe and North Africa, all because we aim to grow Malta's fleet, routes, traffic and jobs over the next three years.
- The ongoing partnership with the Malta Tourism Authority will help us promote the vision of Prime Minister Muscat and Minister Mizzi to increase annual connections to all corners of Europe, which will support the growth of tourism, business and jobs in Malta.
- Ryanair appreciates the expertise of the Malta Civil Aviation Directorate (CAD) in licensing Malta Air to operate B737 aircraft and we look forward to working closely with the Maltese authorities in the coming years as we hope to add over 50 to the Maltese registry. ”
Malta's Minister of Tourism, Konrad Mizzi, said:
- “The relationship between Ryanair and Malta has evolved into a successful collaboration. We welcome Ryanair's commitment to operate and grow an airline based in Malta that will greatly contribute to the country's development. ”