BUZZ has been sold by KLM to Ryanair, a transaction which should become effective on 1 April 2003 at the latest. Ryanair has declared it paid ”15m, a pittance against its one billion pound sterling cash mountain. KLM says it had already decided not to integrate Buzz with Basiq Air , the low-cost label of subsidiary leisure carrier Transavia Airlines. KLM says it will remain active in the low-cost ” low fare market through Transavia. Basiq Air currently serves 13 European destinations from Schiphol and two from Rotterdam. Buzz currently operates a fleet of eight BAe 146 and six 6 Boeing 737-300 aircraft, Ryanair says it will significantly rationalise Buzz's operations by closing a number of high-cost unprofitable services and operate the remaining routes at increased frequency, lower fares and much lower costs. The Buzz BAe-146 fleet will go back to KLM during the year, to be replaced by Boeing 737's. http://www.ryanair.com