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The sale of budget airline Niki to IAG, owner of British Airways, could hit turbulence tomorrow when a Berlin court is set to decide whether to reverse its insolvency filing.
IAG agreed last Friday to pay 20 million for the business, part of the failed Air Berlin group, and make it part of its low-cost unit Vueling. Under the deal it would provide up to 16.5 million in additional liquidity to the company.
Niki filed for insolvency last month after Lufthansa scrapped plans to buy the Austrian unit, grounding the airlines 20-plane fleet and stranding thousands of passengers.
Fairplane, a law firm seeking to recover…
Read the full article at: https://www.thetimes.co.uk/article/legal-challenge-could-halt-nikis-20m-sale-to-iag-mcwrxmv62
