Printer Friendly

Air Berlin increases its stake in Austrian carrier NIKI to almost 50%.

AIRLINE INDUSTRY INFORMATION-(C)1997-2010 M2 COMMUNICATIONS

German airline Air Berlin (ETR:AB1) said on Monday that it has increased its stake in Austrian budget airline NIKI Luftfahrt GmbH to 49.9% from its previous holding of 24%.

Air Berlin paid EUR21m to buy the additional shares from the Privatstiftung Lauda (private Lauda foundation).

Additionally, Air Berlin has agreed to grant a loan of EUR40.5m to the Lauda foundation. This may be repaid in three years' time either in cash or through the transfer of the remaining 50.1% of NIKI.

The budget carrier, which was established by former Formula One racing driver Niki Lauda, will be fully consolidated within the Air Berlin group but will remain a legally independent company. Air Berlin said that the 'NIKI' brand will continue for the foreseeable future.

((Comments on this story may be sent to aii.feedback@m2.com))
COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Airline Industry Information
Date:Jul 7, 2010
Words:147
Previous Article:Hawaiian Airlines' application for Tokyo service is confirmed by DOT.
Next Article:US Airways reports record load factor for June 2010.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters