RYANAIR has completed the transaction with KLM to acquire certain assets (but not the company) of KLM UK Ltd which traded as Buzz and has confirmed the start-up of the new operation on 1 May as a British registered sub-service of Ryanair. It has not yet received regulatory clearance from the UK competition authorities but will begin operations in any event. The final terms involve Ryanair paying a sum of EUR20.1m to KLM to acquire 10 aircraft (6 x 737-300s and 4 x BAe146s), up to 130 employees. KLM UK will retain up to 470 of the staff previously dedicated to the Buzz operation, as well as the headquarters building in Stansted, the assets and liabilities of the legal entity KLM UK Ltd which was trading as Buzz up to 31 March 2003. The new chief executive of Buzz Stansted Ltd will be John Osborne a former director of operations for Ryanair whose past has included spells as chief executive of both GB Airways and Virgin Express. www.ryanair.com