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Lauda beats IAG in race to buy Niki from Air Berlin administrators
British Airways owner IAG has been beaten by former race car driver Niki Lauda to buy Niki, the Austrian airline he founded in 2003, administrators said on Tuesday.
A deal was agreed to sell Niki, a former part of the collapsed Air Berlin group, to IAG's Spanish budget arm, Vueling, which would buy 20m of assets from the Austrian airline and provide up to 16.5m of liquidity to Niki as part of a new, separately run Austrian subsidiary.
The assets included up to 15 Airbus A320 aeroplanes and an "attractive" portfolio of slots at various airports including Vienna, Dusseldorf, Munich, Palma and Zurich.
However, on January 12, 2018 Niki insolvency proceedings opened in Austria initiating a new sales process. IAG resubmitted its bid and had been advised it was unsuccessful.
IAG said it was "disappointed that Niki will not be able to develop and grow stronger as part of the group".