FRANKFURT (Reuters) – British Airways’ owner IAG <ICAG.L> said on Friday it would buy Niki, Air Berlin’s <AB1.DE> 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.
IAG said Niki would become part of the low-cost carrier Vueling and would be incorporated in Austria, employing 740 of Niki’s 1,000 former employees. Assets include 15 A320 aircraft and slots at airports including Vienna, Dusseldorf, …
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