High flyer: Ryanair swoops on major stake in Niki Lauda’s airline

Ryanair is buying a majority stake in the Austrian airline founded by Niki Lauda around two months after the former Formula One champion bought it back. The Irish firm is taking an initial 24.9 per cent stake in Laudamotion and said it will up that to 75 per cent “as soon as possible”, subject to EU competition approval. Laudamotion is the successor to Niki, which Lauda bought back earlier this year after it was put up for sale under the insolvency of previous owner Air Berlin. Ryanair will provide six aircraft under leases.