Low-cost airline Laudamotion plans to double its fleet next summer following Irish carrier Ryanair's purchase of a 75 per cent stake in the company founded by Formula One champion Niki Lauda.
EU regulators recently gave Ryanair the go-ahead to buy 75 per cent of Laudamotion, in which it intends investing €100 million.
Austria-based Laudamotion confirmed on Wednesday that it will acquire nine new Airbus A320 craft next summer, doubling the size of its fleet to 18.
The company also said that it intended to increase pilots’ pay, giving captains a guaranteed starting basic salary of €90,000 a year, rising to €180,000 including allowances.
Starting salary
First officers will get a guaranteed starting salary of €46,000 rising to €70,000.
Andreas Gruber, Laudamotion's chief executive, noted that the airline had sold 90 per cent of the available seats on its aircraft over the summer.
“These nine additional 2019 Airbus deliveries ensure that Laudamotion will grow again by at least 20 per cent to five million guests per annum,” he said.
David O’Brien, Ryanair’s chief commercial officer, said that Ryanair was pleased to complete the purchase of 75 per cent of Laudamotion.
