British Airways’ Parent Loses Control of Austrian Airline Niki After Court Ruling

By Anna Breuer on 23 January 2018
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DSC_0701 (1)British Airways’ parent IAG won’t be assuming control over Austrian airline Niki after all. An Austrian court ruled that former owner Niki Lauda had put forward the best bid.

Lauda will assume ownership via a private company, Laudamotion GmbH.

“Niki was always my heart and soul,” the former Formula One champion told reporters, after the news was announced.

The move came only after only a German court had awarded IAG control and two subsequent court rulings found that the insolvency proceedings had to move to Austria from Germany.

“In the early hours of this morning, Laudamotion GmbH emerged from a transparent bidding process as the best bidder,” said Niki’s Austrian and German insolvency administrators, Ulla Reisch and Lucas Floether, in a joint statement.

Lauda said he plans to discontinue the Niki name and merge the business into Laudamotion.

Niki was founded in 1980 as Aero Lloyd and continued under that name until 2003, when Niki Lauda took over the concern and renamed it. Niki began a partnership with Air Berlin in 2003 and was acquired by that airline in 2011.

Niki ceased all operations on December 14, 2017. At one point, the low-cost carrier operated the world’s shortest international flight, Vienna, Austria, to Bratislava, Slovakia.

(Photo: Accura Media Group)

Accura News

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