Ryanair Buys Malta Air’s ‘Golden Share’ Making It Full Owner
The Maltese government has sold its “golden share” in Malta Air to industry leader Ryanair, transferring full ownership to Ryanair Holdings.
This was initially reported by Fresh Aviation which stated that this acquisition was part of a pre-agreed contractual framework dating back to 2019 – when the airline was created.
Official filings reveal that the transfer was triggered on 12th June last year, through a call option clause outlined in the operator’s Shareholders’ Agreement. This clause gave Ryanair’s investment arm, Gulliver Holdings, the right to acquire the government’s single share under specific conditions.
That “golden share” granted the Maltese state ownership of the Malta Air name and veto power over any potential sale of the airline or transfer of its Air Operator Certificate (AOC) and operations out of Malta.
Malta Air was initially acquired from the Maltese government on 11th June 2019, having been established as a subsidiary of government-owned Malta MedAir earlier that year. It had received its first Boeing 737-800, registered as 9H-QAA from Ryanair.
As of April 2025, the airline’s fleet consisted of 136 Boeing 737-800 and 43 737-8200 Gamechanger aircraft.
Ryanair Holdings is now the sole shareholder in Malta Air. Neither Ryanair nor the Maltese government have issued a formal statement.
READ NEXT: Watch: Dressed in Għonnella, Women Lead Powerful Pro-Choice March In Valletta
