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Irish low-coster Ryanair received 100% of the Austrian airline LaudaMotion. The deal was completed in December, LaudaMotion reports in a message. The company confirmed the purchase of a 100% stake of its shares by low-cost airline Ryanair. The deal makes LaudaMotion a complete “daughter” of the Irish corporation, which owns the largest airline in Europe. The deal with Ryanair will allow LaudaMotion to increase its fleet to 30 Airbus planes by the summer of 2020. Passenger traffic will increase to 7.5 million in 2021 against the current 4 million. The carrier will update routes from Vienna, Düsseldorf and Palma de Mallorca next month. The European Commission has already approved the deal. Irish Ryanair initially announced the purchase of a 24.9% stake in LaudaMotion, in August it increased its share to 75%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would ...
On Wednesday, Ryanair's (RYA.I) Chief Executive Officer Michael Kevin O'Leary announced that around 3,500 jobs would be slashed at the airline unless it could agree on a series of pay cuts with staff. The warning came after the company resumed ...
European shares turned from three-month highs on Monday after technology and healthcare stocks saw losses. The drop dented hopes of an economic recovery from the COVID-19 pandemic. The STOXX 600 index slipped 0.4% as investors retreated from ...
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