Monday , March 8 2021

O & # 39; Leary: "In the long term, five airlines are left"

O & # 39; Leary: "In the long term, five airlines are left"

VIENNA. After the withdrawal of Niki Lauda from Laudamotion, the company is the total property of Irish Ryanair.

O & # 39; Leary:

Laudamotion, head of Andreas Gruber (on the left) and his boss Michael & Leary Image: APA / HELMUT FOHRINGER

His boss, Michael O & Leary, has lost the ambitious Viennese economic program. Consider a strong concentration process for the European airline market.

In early 2018, Niki Lauda took over the insolvent former subsidiary of Air Berlin, Niki, and made Laudamotion out of her. Only a few months later, the Irish got up, at the summer, the proportion increased to 75 percent. At the end of the year, Lauda sold the last 25 percent to Michael O & Leary, which was announced yesterday. There was no mention of a purchase price.

Niki Lauda is still president of the Laudamotion shareholder committee. What this function is, the head of Laudamotion, Andreas Gruber, did not want to explain it. These are internal. Niki Lauda is "the company's brand". "I am looking forward to continue cooperation with Ryanair and Laudamotion," said Lauda in a statement.

Gruber received a Leary order to grow. In the summer, the fleet will increase from 19 to 25 aircraft: 2022 will be 40 machines. Passenger numbers should be ten million in the year, there are currently 4.5 million. The number of employees in this time increases from 900 to 2100, according to the plan.

Third year benefit

In the first financial year, Laudamotion has traveled a minimum of 150 million euros, in the second current, there is a maximum loss of 50 million euros. As of the third year, benefits are predicted. "We're going to invest as much as we need," said O & Leary.

It is certain that Ryanair and Laudamotion will win price wars with other airlines. In the long term, four or five major airlines in Europe will continue to be in the air, many of the smallest will be assumed – or they will, said yesterday. (Crane)

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