Ryanair has agreed to buy Malta Air, a start-up airline.
No monetary particulars of the transaction have been made public.
The European low-cost provider will transfer the registration of its Malta-based fleet of six Boeing 737 plane to the islands.
The funding will permit Ryanair to develop its already sizable presence in Malta and entry non-EU markets, largely in North Africa, from Malta.
Ryanair at present flies three million passengers annual to and from Malta.
Talking in Malta Ryanair chief government, Michael O’Leary, mentioned: “Ryanair is happy to welcome Malta Air to the Ryanair Group of airways which now contains Buzz (Poland), Lauda (Austria), Malta Air, and Ryanair (Eire).
“Malta Air will proudly fly the Maltese identify and flag to over 60 locations throughout Europe and North Africa as we glance to develop our Maltese primarily based fleet, routes, visitors and jobs over the following three years.”
He added: “Ryanair’s continued partnership with the Malta Tourism Authority will assist drive ahead the imaginative and prescient of prime minister Muscat and minister Mizzi to develop year-round connections to all corners of Europe which can help elevated tourism, enterprise and jobs in Malta.
“Ryanair appreciates the experience of the Maltese Civil Aviation Directorate in licencing Malta Air to function the Boeing 737 plane and we stay up for working carefully with the Maltese authorities over the approaching years as we hope so as to add over 50 extra plane to the Maltese register.”
Completion on the deal is deliberate for the tip of June.
When finalised Ryanair hopes to base 200 crew in Malta, with plans to develop the fleet to 10 planes in three years, creating over 350 jobs.
Malta minister for tourism, Konrad Mizzi, mentioned: “The connection between Ryanair and Malta has developed right into a profitable collaboration.
“We welcome Ryanair’s dedication to function and develop a fully-fledged Malta-based airline which can contribute in a big approach to the nation’s growth.”
Malta Air will compete in opposition to state-owned Air Malta.
The 2 will supply completely different routes, with the nationwide provider specializing in flights to principal airports in Europe, in addition to the Center East and Africa.