Ryanair has no plans to drop the Malta Air brand despite having bought out the government’s golden share last year, a company spokesperson told Times of Malta.
News emerged last week that Ryanair had purchased the government’s single share in the company for €25,000 at the earliest opportunity in June 2024.
Although the government had no operational control over the airline, the golden share granted it rights over the Malta Air brand and the power to veto any potential sale of the airline.
Ryanair says that this is not planned, telling Times of Malta that it does not plan to scrap the Malta Air brand anytime soon and hopes to continue growing its fleet, in line with its original promises.
When the airline operator launched back in 2019, Ryanair boss Michael O’Leary promised to expand its fleet from six aircraft to 10.
A company spokesperson told Times of Malta that its buyout of the government’s golden share does not alter the airline’s plans in any way.
Ryanair not plan to scrap the Malta Air brand anytime soon and hopes to continue growing its fleet, in line with its original promises
Malta Air is one of several subsidiaries run by Ryanair across Europe, with O’Leary describing it as an alternative to the then-floundering Air Malta.
Last week, former tourism minister Konrad Mizzi, who brokered the deal, told Times of Malta that the government chose to retain a golden share in the company for a five-year period to monitor the company and “ensure the operation was grown in Malta”.
The contract stipulated that Ryanair could buy this share for a fixed fee of €25,000 after five years.
This five-year expiry date was not disclosed at the time of the deal, nor announced when Ryanair bought the share last June. It only emerged in press reports last week.
Sources told Times of Malta that the government explored possible legal challenges when first notified of Ryanair’s intention to exercise its right to buy the share, only to conclude that they had no choice but to respect the contract’s terms.