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About & Leary: "In the long term, there will be five airlines"

About & Leary: "In the long term, there will be five airlines"

VEIN. After leaving Niki Lauda from Laudamotion, the company is fully owned by the Irish Ryanair.

About & Leary:

Laudamotion boss Andreas Gruber (left) and his boss Michael Liri Image: APA / HELMUT FOHRINGER

Their boss Michael O & # 39; Liri missed the ambitious Vienna economic program. He sees a strong process of concentration in the European air transport market.

In early 2018, Niki Lauda took over the insolvent former subsidiary of Air Berlin, Niki, and made Laudamotion out of it. Only a few months later the Irish grew, in the summer their share rose to 75 percent. At the end of the year, Lauda sold the last 25 percent to Michael O'Leary, which was announced yesterday. The purchase price has not been mentioned.

Niki Lauda remains chairman of the shareholder committee of Laudamotion. What is this function, the boss of Laudamotion Andreas Gruber did not want to explain. These are internal organs. Niki Lauda is the “brand of the company”. “I look forward to further cooperation with Ryanair and Laudamotion,” said Lauda in a statement.

Gruber received an order from O'Leary for growth. By summer, the fleet will be increased from 19 to 25 aircraft – by 2022 it will be 40 cars. The number of passengers should be ten million per year, currently there are 4.5 million. The number of employees at this time increases from 900 to 2100, as planned.

Profit from the third year

In the first fiscal year, Laudamotion flew to minus 150 million euros, and in the second – the maximum loss of 50 million euros. Profit is expected from the third year. “We will invest as much as we need,” said Leary about Liri.

He is confident that Ryanair and Laudamotion will win price wars with other airlines. In the long run, four to five major airlines in Europe will remain in the air, many smaller ones will be accepted – or they will fail, he said yesterday. (Crane)

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