Business World

Wednesday 15 August 2018

Aer Lingus owner 'hopeful' on Niki deal after Austria move

Air Berlin (L) and Niki aircrafts stand on the tarmac at the Vienna International Airport (VIC) in Schwechat, Austria. Photo: AFP/Getty Images
Air Berlin (L) and Niki aircrafts stand on the tarmac at the Vienna International Airport (VIC) in Schwechat, Austria. Photo: AFP/Getty Images

Alistair Smout

Aer Lingus owner IAG said yesterday it was hopeful that it could complete its agreed acquisition of Austria's Niki quickly after a court ruled that the administration process should be conducted in Austria rather than Germany.

"IAG remains interested in the assets of Niki and is looking forward to the new process being completed promptly," IAG said in a statement. It had agreed with German administrators to buy the holiday airline for €20m and integrate it into its Vueling brand, before the court ruling threw that plan into doubt.

"The group remains hopeful that Vueling can continue with its acquisition and safeguard up to 740 former Niki jobs in Austria and Germany," it said.

Ryanair along with Niki's founder, former Formula One world champion Niki Lauda, also said they were interested.

Offers can be made for Niki until Friday and a decision will follow within days, German administrator Lucas Floether and his Austrian counterpart Ulla Reisch said.

Niki filed for insolvency in Berlin last month after Germany's Lufthansa scrapped plans to buy the Austrian arm of insolvent Air Berlin.

IAG agreed with the German administrator to buy the business but that was put at risk last week after German and Austrian courts ruled the insolvency proceedings had to move to Austria. (Reuters)

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business