29 JANUARY 2018
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
+44 (0)20 8952 8383
© 2020 Business Travel News Ltd.
A consortium headed by former Austrian racing driver Niki Lauda has won the battle for bankrupt Air Berlin unit Niki, an airline he founded in 2003.
Niki’s joint administrators on Tuesday selected Lauda’s Laudamotion company as “best bidder” for the Vienna-based airline, subject to legal approval. The purchase price was not disclosed.
Niki was forced to stop flying in December after Lufthansa dropped its offer to buy the low-cost division of Air Berlin by the EU competition people as it attempted to acquire other parts of the airline.
British Airways and Iberia parent IAG stepped in late in December to agree a deal with Niki’s administrators to acquire parts of the defunct airline and roll them into a new Vueling subsidiary.
The agreement unravelled, however, when courts in Austria and Germany ruled insolvency proceedings should be held in Austria rather than Air Berlin’s home country Germany where the IAG arrangement was struck.
The deal is reported to include Airbus A320 aircraft and some airport slots. Lauda said he would employ most of Niki’s 1,000 plus staff, but with Laudamotion seeking a partner to provide back office support, that number may well be revised down.
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
No one has commented yet, why don't you start the ball rolling?