Vienna, 21st November 2018: Laudamotion, part of the Ryanair Group and Ryanair, the world’s leading airline today announced the completion of a transaction with SMBC Aviation Capital to lease two Airbus A320 aircraft on behalf of LaudaMotion. The aircraft (MSN 2924 and 2928) are to be leased to LaudaMotion GmbH (“LaudaMotion”) as part of a series of initiatives to support LaudaMotion’s continued growth.
The first of two aircraft was delivered to LaudaMotion this week with the second aircraft due in January 2019 following redelivery from the current operator and completion of certain cabin reconfiguration in line with LaudaMotion’s specifications.
This is the first aircraft delivered on lease to LaudaMotion since the completion of Ryanair’s increased investment in the airline. In all, Ryanair expects to double the existing LaudaMotion fleet to 19. Ryanair initially purchased 24.9% of LaudaMotion earlier this year and increased its shareholding to 75% during summer 2018 following approval from the EU Competition Authority.
Commenting on the transaction, Andreas Gruber, Managing Director of Laudamotion said, “We are pleased to conclude this deal with SMBC Aviation Capital for these two Airbus aircraft following the acquisition of 75% in LaudaMotion by Ryanair. This is an exciting time for the airline as it enhances its fleet.”
Peter Barrett, Chief Executive of SMBC Aviation Capital added, “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. We wish both entities many successful flying hours with these aircraft”.