Ryanair plans to buy stake at new Austrian leisure carrier Laudamotion

Niki Lauda aims to turn a profit from next year with Laudamotion, the airline he has rebranded after buying it back from insolvent Air Berli. (Reuters)
Updated 21 March 2018
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Ryanair plans to buy stake at new Austrian leisure carrier Laudamotion

BERLIN: Ryanair plans to buy a stake in new Austrian leisure carrier Laudamotion, helping former motor racing champion Niki Lauda to get the airline up and running and giving the Irish carrier a bigger presence in Germany and Austria.
Ryanair has agreed to buy an initial 24.9 percent stake in Laudamotion, formed out of insolvent carrier Niki which was part of Air Berlin, and plans for that to rise to 75 percent “as soon as possible,” subject to EU approval.
The Irish budget carrier will invest less than €50 million, though will provide an additional €50 million in funding for start-up and operating costs in the first year.
“This Laudamotion partnership is good news for Austrian and German consumers/visitors who can now look forward to real competition, more choice and lower fares,” Ryanair CEO Michael O’Leary said in a statement.
Niki, which flies to tourist destinations from Germany and Austria using A320 planes, was seen as the most attractive part of insolvent Air Berlin.
Germany’s largest carrier Lufthansa dropped plans to buy Niki in December over competition concerns.
British Airways parent IAG then won a bidding round, before that decision was canceled over legal action. Lauda eventually won a new bidding process to buy back the airline he founded.


KSRelief to provide 5,000 Yemenis with school supplies

Saudi Arabia is ranked the first donor in the world when it comes to humanitarian financial and logistical support in Yemen. AFP
Updated 26 sec ago
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KSRelief to provide 5,000 Yemenis with school supplies

  • There are two million Yemeni children out of school because of the Houthis’ aggression against civilians
  • The total cost of all the projects provided by KSRelief since its establishment is $70 million

JEDDAH: King Salman Humanitarian Aid and Relief Center (KSRelief) has launched a project to provide Yemeni students and schools with supplies to ensure that education continues across the country despite the brutal acts of militants. The trucks started to carrying the aid from Riyadh to Yemen on Monday.

“It is a project to provide Yemen’s schools with the essential needs to ensure a better and smoother educational environment, such as chairs, desks, and boards, in addition to students’ supplies. It will support nearly 5,000 students across Yemen,” said Dr. Samer Aljetaily, spokesman for KSRelief.
“The trucks will arrive first in Ma’arib, then it will be distributed to the most needed areas across the country’s schools and students.”
“My Education” is one of the big projects given to support Yemen’s people in health, shelter, infrastructure, environment and education to help the country stand on its feet regardless of any devastation caused by the militants.
“The total cost of all the projects provided by KSRelief since its establishment is $70 million. In terms of education, the center has given financial aid to schools, paid teachers’ salaries, and provided students’ essential school needs and meals. We will continue supporting our brothers and sisters in Yemen in all sectors.”
This project has been supported by the Saudi Ministry of Education and the Saudi-led Islamic Military Coalition. “The coalition always supports our all initiatives in the interest of Yemeni citizens. The coalition will protect the aid till it arrives in Ma’arib, then it will support logistically to facilitate the distribution of the supplies. Education is a priority for the Saudi government and for KSRelief.
“We have always supported education in Yemen and always will, whether it is for schools, educational institutions, students, teachers, or even educational curricular and psychological support departments to help students become better amid all the horrific acts caused by the Houthis. KSRelief is very keen on building a strong future with a well-educated generation of Yemenis.”
Asked whether there is a lack of international support for Yemen, he told Arab News: “Saudi Arabia, along with the UAE, has attracted global attention to Yemen’s humanitarian status in different ways, including direct funding for the infrastructure of the country and huge support for health, education and the environment. Saudi Arabia is ranked the first donor in the world when it comes to humanitarian, financial and logistical support in Yemen. This has encouraged other countries’ support as well.
“The UAE has greatly supported the Yemen humanitarian file with $1 billion. The international community has reacted to this.
“However, there must be more international collaboration to reduce the militants’ attacks on the aid and supplies and facilitate the entry of aid and ensure a higher level of safety. There is also need for better cooperation to protect students and children in the militants’ controlled areas,” he emphasized.
“The Saudi Ministry of Education has supported this initiative by providing school supplies and students’ essential supplies.”
There are two million Yemeni children out of school because of the Houthis’ aggression against civilians.