Air Berlin increases its stake in Austrian carrier NIKI to almost 50%.
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.
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|Publication:||Airline Industry Information|
|Date:||Jul 7, 2010|
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