Tony Ryan

Ryanair founder Tony Ryan and family members have confirmed their involvement in a new low cost airline which will begin operations in Mexico later this year.

The Ryans, together with Maurice Mason of Kite Investments, have set up a company called RyanMex which will take a 49% stake in the new airline, called AeroBus. The majority shareholding will be held by IAMSA, the largest bus company in Mexico.

A press conference in Mexico City was told today that AeroBus expects to carry 1.5 million passengers in the first year of operation. The airline will begin operations in September this year with two Boeing 737-300s, with the aircraft fleet increasing to ten within two years of operation. The airline will cover Mexico City and other major Mexican cities as well as some cities in the US, but route details will be announced until closer to the launch date.

Another Irish company, PlaneConsult, whose CEO is former Ryanair operations director Conor McCarthy, will provide planning and implementation for the start-up phase of the new airline. McCarthy will also be a shareholder in AeroBus.

Tony Ryan, Declan Ryan and Maurice Mason will represent RyanMex on the board of the new airline, which expects to employ up to 500 staff within the first year.