The Government of Malta has officially relinquished its ‘golden share’ in low-cost carrier Malta Air, handing full ownership of the airline to Ryanair Holdings. The move finalises a pre-agreed framework dating back to the airline’s creation in 2019.

‎

The transfer was executed via a call option clause that had been embedded in the original shareholders’ agreement. This clause allowed Ryanair’s investment arm, Gulliver Holdings, to acquire the government’s single share under certain conditions. The golden share had granted Malta key rights, including control over the use of the Malta Air brand and veto powers over critical decisions such as the sale of the airline or the relocation of its air operator certificate.

‎

Malta Air was initially set up as a subsidiary of Malta MedAir and officially acquired by Ryanair in June 2019. Its first aircraft, a Boeing 737-800 registered as 9H-QAA, was transferred from Ryanair and began operations that same month.

‎

Since then, the airline has grown significantly. As of April 2025, Malta Air’s fleet includes 136 Boeing 737-800s and 43 of Ryanair’s newer 737-8200 ‘Gamechanger’ models. The airline has also expanded its operational footprint, assuming control over several UK bases including Bournemouth, East Midlands, and Leeds Bradford.

‎

Following the share transfer, Ryanair Holdings now fully owns Malta Air. The airline is part of a broader portfolio of Ryanair-operated carriers, which also includes Buzz, Lauda Europe, and Ryanair UK. Together, the group manages a combined fleet of around 620 aircraft.

‎

‎