Irish airline Ryanair signed an agreement with Malta to start a subsidiary airline called Malta Air.
The carrier will take more than 60 routes from Ryanair. The airline also released a statement confirming the news and said it would start moving planes by the end of June.
Ryanair will base a number of planes in Malta and open maintenance facilities on the island. The Maltese government will have a golden share, which gives the shareholder veto power, in Malta Air.
Ryanair says the new airline will not have an impact on flag carrier Air Malta, as both airlines offer complementary services.
Ryanair CEO Michael O’Leary said Malta Air will aim to serve 5 million passengers within five years and is already seeking new routes in addition to the 62 it will take over from Ryanair.
There’s currently no start date for the new airline.
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