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Laudamotion has confirmed that Ryanair has completed the purchase of a 100 per cent shareholding in the company.
The Austrian airline now becomes a subsidiary of Ryanair Holdings, the group that owns Europe’s largest carrier.
Following the deal Laudamotion revealed plans to boost its fleet to 25 planes this summer, up from 19 last year, with ambitions to operate 30 aircraft by 2020.
The carrier hopes to fly 7.5 million passengers annually by 2021.
Speaking in Vienna, Laudamotion chief executive, Andreas Gruber, said: “With the backing of Ryanair, Laudamotion is set to grow strongly over the next three years.
“We will release details of up to 20 new routes for winter 2019 once we have completed our airport and handling negotiations by the end of March.”
This summer, Laudamotion will operate four bases as it grows in Vienna from four to eight aircraft.
Dusseldorf will host seven aircraft, Stuttgart three, and Palma two.
In winter 2019, the Vienna base will increase further to 11 aircraft, making Laudamotion the second largest carrier there, just behind Austrian Airlines.
Laudamotion will also hire hundreds of pilots to facilitate the growth.
Colin Casey, deputy chief executive of Laudamotion, added: “We are currently negotiating new routes and handling agreements with more than 50 new airports, all of whom want to share in Laudamotion’s exciting growth plans for the coming years.
“As other airlines falter, close bases or put themselves up for sale (as in the case of Germania recently), we are inundated with applications from pilots and cabin crew.”