Ryanair is a step closer to completing its takeover of low-budget rival buzz.
The Stansted-based airline has bought KLM's buzz assets.
It paid 20.1m Euros to KLM to acquire ten aircraft (six 737-300s and four BAe146s), and a number of airport facilities.
KLM UK will retain up to 470 of the staff previously dedicated to the buzz operation, the headquarters building in Stansted, and the assets and the legal liabilities of KLM UK Ltd, which was trading as buzz until March 31.
Ryanair has formed a new subsidiary - buzz Stansted - to operate the fleet of ten aircraft and employ up to 130 people.
It is hoped this company will start on May 1 on a network of 12 routes formerly operated by buzz.
The overall transaction is still awaiting approval from the Office of Fair Trading, however.
Ryanair's chief executive Michael O'Leary said: "We have been delighted with the speed and success of the turnaround and relaunch of the core buzz operation."
An OFT spokesman said it expected to make an announcement in a couple of weeks' time.
Published Tuesday, April 22, 2003
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