Ryanair Founder Invests in New Venture in Mexico

Tony Ryan, founder of the hugely successful European low-fare carrier Ryanair, is investing in a new low-fare airline in Mexico that plans to take flight in September.

Ryan, members of the Ryan family and Ireland-based Kite Investments set up a company called RyanMex to take a 49 percent stake in the new airline called Viva AeroBus.

The majority shareholder will be IAMSA, Mexico´s largest bus company.

Bus-airplane travel packages might be offered, investors said, and the airline envisions service to major Mexican domestic markets and some U.S. cities, such as Los Angeles and Houston.