Washington, D.C. 20549

                                    FORM 6-K

                        Report of Foreign Private Issuer

                       Pursuant to Rule 13a-16 or 15d-16
                     of the Securities Exchange Act of 1934

                          For the month of April 2003

                              RYANAIR HOLDINGS PLC
                (Translation of registrant's name into English)

                     c/o Ryanair Ltd Corporate Head Office
                                 Dublin Airport
                             County Dublin Ireland
                    (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.

                         Form 20-F..X.. Form 40-F.....

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.

                               Yes ..... No ..X..

If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82- ________


Ryanair,  Europe's  No.1 low fares  airline  today  (Friday,  11th  April  2003)
announced  that it had completed the  transaction  with KLM, to acquire  certain
assets (but not the company) of KLM UK Ltd which traded as Buzz. The final terms
involve  Ryanair  paying a sum of  EUR20.1m  to KLM to acquire 10  aircraft (6 x
737-300's  and 4 x BAe146's),  up to 130  employees,  together with the relevant
operating  manuals,  postholders and some airport  facilities that were formerly
owned by KLM UK Ltd and which  comprise the core  operation of Buzz. 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.

Ryanair  confirmed that the agreed purchase price has been reduced from EUR23.9m
to a final  agreed  figure of EUR20.1m as a result of a number of issues,  which
arose during the due diligence  process.  Ryanair has formed a new  subsidiary -
Buzz Stansted Ltd - and this company will operate the fleet of 10 aircraft, will
employ up to 130 people and will hold the UK AOC  approval to enable the company
to commence  flying on 1 May next.  It is intended that the company will operate
its aircraft on a  subservice  basis  flying  directly  for  Ryanair,  primarily
operating  on a network of 12 routes,  which were  formerly  operated by KLM UK/

Ryanair are  delighted to announce  that the key  operational  postholders  have
agreed to join  Buzz  Stansted  Limited,  as this  forms a core of  experienced,
senior aviation people led by Doug Stephen, Chief Pilot and Roland Stroud, Chief
Engineer.  Floris  Van  Pallandt  the  former  Chief  Executive  of Buzz will be
returning to KLM as previously  agreed. The new Chief Executive of Buzz Stansted
Limited will be Mr John Osborne a former  Director of Operations for Ryanair and
former Chief Executive of GB Airways and Virgin Express.  This  experienced team
will  work  closely  with  the CAA  over the  coming  weeks  to  ensure a smooth
resumption of flight services on 1 May next.

Ryanair have confirmed  that bookings on the 12 routes,  which have already been
relaunched  and will  commence  flying  on 1 May next  have  been  exceptionally
strong. Already for the month of May over 100,000 passengers have reserved seats
on these  services and for the six months of the Summer period more than 400,000
seats have already been sold,  generating advance revenues of over EUR20m. These
advance sales will be more than sufficient to fund the entire acquisition of the
core assets and operation of Buzz.

Whilst this transaction has already received approval from the relevant
regulatory authorities in Ireland and Germany, it has not yet received
regulatory clearance from the UK competition authorities. This is entirely due
to the very tight schedule which Ryanair and KLM have adhered to in order to
complete this rescue of Buzz and the saving of up to 130 jobs.

Ryanair  and KLM  have  advised  the OFT of  their  intention  to  complete  the
acquisition without waiting for regulatory approval in advance.

Welcoming the completion of this transaction  today,  Ryanair's Chief Executive,
Michael O'Leary said:

     "We have been  delighted  with the speed and success of the  turnaround and
     relaunch of the core Buzz operation. Thanks to the Herculean efforts of our
     friends in KLM, the outstanding team of people in Buzz and Ryanair, we have
     restructured  and relaunched the core Buzz operation within a period of two
     months. This turnaround will transform a company that was losing over EUR1m
     a week, to one that will be profitable when it relaunches on 1 May next.

     "In doing so we have rescued the core  operation  of Buzz,  we have doubled
     the capacities and halved the fares on 12 of its most important  routes. In
     doing so, we will have  saved up to 130  highly  paid jobs and we will more
     than  double  the  traffic on these  routes to over 3  millions  passengers
     during the coming year.

     "To achieve such a dramatic and  successful  turnaround  during perhaps the
     worst two months in the history of the aviation industry (when we have been
     bedevilled  by a war in  Iraq,  fuel  prices  at all  time  highs  and  the
     reluctance  of  people  to  travel  because  of  fears  over  security  and
     terrorism),  is a magnificent tribute to the courage of the 130 outstanding
     people of Buzz who will now form the core of Buzz Stansted Limited.

     "This success would not have been possible  without the help and assistance
     of the regulatory  authorities  and we are working  closely with the CAA to
     ensure that it is satisfied with the financial  status of the operation and
     more  importantly  with the  operating  and  safety  structures  which will
     continue to be managed by the key senior  operations and engineering  staff
     of the former KLM UK. We are delighted to have secured the services of John
     Osborne who has a long and  successful  career at senior levels in a number
     of European  airlines,  and who is now returning to the Ryanair group based
     in the UK.

     "We will continue over the coming two weeks to liaise closely with both the
     CAA and the OFT and look forward to obtaining  their approval in due course
     of the purchase and rescue of the core operation of Buzz and its successful
     relaunch  from 1 May onwards,  as part of Europe's No.1 low fares airline -

Ends.     Friday, 11th April 2003

For further information

please contact:

Howard Millar


Tel. +353-1-8121212

Pauline McAlester

Murray Consultants

Tel. +353-1-4980300


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                    RYANAIR HOLDINGS PLC

Date:  11 April 2003

                                    By:___/s/ Howard Millar____

                                    H Millar
                                    Company Secretary & Finance Director