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Lauda buys back airline he founded
Three times Formula 1 world champion and Mercedes F1 team chairman Niki Lauda has won the bidding for the Niki airline he founded, convincing the insolvent carrier's administrators in marathon talks and undoing an agreed deal with British Airways owner IAG . The previously agreed sale of Niki to IAG fell through after two courts ruled the insolvency proceedings had to move to Austria from Germany. That cleared the way for other parties such as budget airline Ryanair and Lauda to again bid for the carrier, which most recently was part of failed German airline Air Berlin . Niki's creditors met on Monday to pick the best bid, and their meeting ran past midnight. 'In the early hours of this...
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8y ago from GrandPrix247.com
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