BA owner IAG to buy insolvent Austrian holiday airline Niki – Business Insider

Empty
Niki check-in counters are seen at Vienna International Airport
in Schwechat
Thomson
Reuters

FRANKFURT (Reuters) – British Airways’ owner IAG said on Friday
it would buy Niki, Air Berlin’s insolvent Austrian holiday
airline, for 20 million euros ($24.01 million) and provide
additional liquidity to the company of up to 16.5 million euros.

The sale to IAG, which had been in exclusive talks for the
airline, is the final chapter in the demise of Air Berlin, the
No. 2 German air carrier that previously owned Niki and filed for
insolvency earlier this year.

(Reporting by Tom Sims; Editing by Gareth Jones)