In addition, the low-cost giant says it is willing to raise its investment in the former Niki to €120 million.
Two months after taking a 24.9% stake in Laudamotion, Ryanair has agreed an option that would give it full ownership of the Austrian leisure carrier within four years, the Irish national broadcaster RTE reports.
Ryanair is currently awaiting approval from European regulators to take a 75% stake in the re-branded airline once known as Niki, which the former Formula One driver Niki Lauda retook control of earlier this year.
When the Irish budget giant agreed in March to take a 24.9% stake, it said it planned to raise that to 75% as soon as possible.
It is while this process continues that Lauda and Ryanair have also agreed an option that allows Ryanair to buy the rest of Laudamotion as well, which confirms a report by the Austrian daily Kurier.
The newspaper wrote that chief executive Michael O’Leary commented he would have to pay a “weirdly high price” if such an option went ahead.
Ryanair says it hopes to get EU approval for the 75% stake in the next few weeks.
With Laudamotion, Ryanair wants to secure a foothold in Austria, which is in particular a rapidly expanding hub for eastern European destinations.
To help Laudamotion become profitable, Ryanair would be willing to increase its investment in the carrier from €100 million to €120 million, RTE says.
Laudamotion has already started flights from Germany and Switzerland and will start flying from Vienna this coming Saturday.