The Government of Malta has formally transferred its remaining ‘golden share’ in low-cost airline Malta Air to Gulliver Holding Limited, an investment arm fully owned by Ryanair, completing a process outlined since the airline’s formation in 2019.

Aviation-focused portal Fresh Aviation has reported that under the original shareholders’ agreement, Ryanair’s Gulliver Holding held an option to acquire the Government’s single share under specific conditions. With the transfer now concluded, Ryanair Holdings becomes the sole shareholder of Malta Air.

Malta Air was originally set up in early 2019 as a subsidiary of the state-owned Malta MedAir and was officially acquired by Ryanair on 11 June 2019. Since then, the airline has grown its operations significantly, expanding its presence across Europe.

Beyond Malta Air, Ryanair operates several other subsidiaries, such as Lauda Europe (also based in Malta), Polish airline Buzz, and Ryanair UK, which was created to navigate the post-Brexit regulatory landscape.