Laudamotion, the airline in which Ryanair has a 75 per cent stake, completed a deal to lease two Airbus aircraft to aid its growth plans.
The airline, founded by former Formula One driver Niki Lauda, is leasing two A320 aircraft through Ryanair. The first aircraft was delivered this week with the second due in January 2019.
Ryanair intends to increase LaudaMotion’s fleet to 19, having initially purchased a 24.9 per cent stake in the business before increasing it to 75 per cent after EU approval.
"In 2003, we leased one of our first Boeing aircraft to Ryanair. We are delighted now to conclude this transaction with the airline for its first Airbus aircraft which will be incorporated into the LaudaMotion fleet," said SMBC Aviation Capital chief executive, Peter Barrett.
SMBC has 90 airline customers across 44 countries. At the end of September it owned, managed and had committed to buy 663 aircraft.