Ryanair buys buzz


Irish low-cost airline Ryanair announced on 31 January that is buying KLM’s low-cost subsidiary, buzz for EUR24 million. The transaction is expected to be completed on 1 April. Ryanair will inherit buzz’s fleet, which will then consist of six Boeing 737s and six BAe 146-300s. buzz had earlier announced its intention of replacing the 146s with 737s, and two of its current eight will have been returned off-lease by then. Ryanair will operate the remaining six 146s until the end of March 2004, when they will be returned to KLM and replaced with additional Boeing 737s. They will carry the Ryanair name, but not be repainted in the airline’s full colors. Ryanair lost little time in placing its imprint on buzz, announcing its intention to curtail many routes, abandon the planned hub in Bournemouth, and cut about 20% of buzz’s staff.

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