Belfast Telegraph

Lauda back in bid war for airline

By Holly Williams

Former Formula One champion Niki Lauda has secured pole position to buy back the Austrian airline he founded after beating rival bidder and British Airways owner, International Consolidated Airlines Group (IAG).

IAG said it was “disappointed” after losing out in the battle to buy Niki, founded by Mr Lauda in 2003, from joint administrators in Germany and Austria.

IAG was previously picked to acquire insolvent airline Niki for up to €36.5m (£32.1m), but the deal fell through after it was ruled that insolvency proceedings had to switch from Austria to Germany. The move threw open the bidding battle.

Belfast Telegraph Digital

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