Air Transport

Ryanair founder Tony Ryan is to establish a Mexican low-cost airline in conjunction with local transport company IAMSA, which will launch in September with two leased Boeing 737-300s, writes Kerry Ezard.

The start-up, which will be called AeroBus, will operate from Mexico City on domestic services, as well as to the USA, says the Ryan family in a statement. Ryan, together with the founder of Irish private equity firm Kite Investments, Maurice Mason, will hold a 49% stake through a newly created investment company RyanMex. AeroBus plans to increase its fleet to 10 737-300s within three years and aims to carry 1.5 million passengers in its first year.