Ryanair’s chief executive officer Eddie Wilson, said: “This new state-of-the-art, four-bay hangar and component workshops will make Prestwick our largest heavy maintenance facility.
“It will be a key part of how we will maintain and support our fleet as we continue to grow to 800 aircraft and 300 million passengers by 2034.”
The UK government is providing £4.9m towards the construction of the new hangar as part of its £32m investment in the Prestwick Aerospace Cluster to position Ayrshire as a leading UK aerospace hub.
The Scottish government and Scottish Enterprise are also jointly investing more than £15m to support the extension of Ryanair’s maintenance facility.
First Minister John Swinney said: “I am delighted that Scottish government investment will support the creation of 450 skilled jobs at Prestwick, which will have a major economic impact in Ayrshire and beyond.
“Ryanair has chosen to expand at Prestwick because of the talent and expertise on the ground and it is testament to the skills of the existing workforce.
“My government will continue to do everything in our power to support the creation of good jobs and to support economic growth in Scotland.”
UK government minister for Scotland Kirsty McNeill said: “This is a fantastic example of significant public sector funding – including £32 million UK Government Ayrshire Growth Deal money for the Prestwick Aerospace Cluster – unlocking substantial private sector investment, boosting employment and driving economic renewal in Scotland.”