Budget airline Ryanair has taken full control of Laudamotion, an Austrian-based carrier set up by former Formula 1 world champion Niki Lauda.
Laudamotion said on Tuesday that Ryanair completed the purchase of 100% of the shares in the new airline in late December.
It did not give financial details.
Ryanair had taken an initial 24.9% stake in March and later increased that to 75%.
The Austria Press Agency reported that Laudamotion chief executive Andreas Gruber told a news conference at Vienna Airport that Mr Lauda will continue to provide “input” to the airline after he sold his remaining stake.
Laudamotion said that it will now expand its fleet and recruit more pilots, cabin crew and engineers.
It plans to open new routes from its bases in Vienna, Stuttgart, Dusseldorf and Palma.