Ex-Formula 1 star Lauda buys back airline he founded

British Airways owner IAG had previously been picked by administrators to buy Niki

But because Niki was registered in Austria, the home country of its founder, two courts there ruled that they should be in charge of the airline's future.

The 68-year-old's company Laudamotion beat rivals including British Airways' owner International Consolidated Airlines Group (IAG) to the purchase of bankrupt Austrian airline Niki, which he founded some 15 years ago.

Niki went into administration in December 2017 when a deal to sell the airline to Lufthansa fell apart following competition concerns raised by the European Commission. "IAG is disappointed that Niki will not be able to develop and grow stronger as part of the group".

"In addition, Laudamotion has asked us for operational support services to enable Niki's flight operations to restart as quickly as possible".

Arsene Wenger confirms talks over Aubameyang-Giroud transfer
It's shaping up to be a busy end to the January transfer window for Arsenal Football Club. Everything seems ok, but you never know what's going on in his head'.

"This is an exciting opportunity". We have plenty of opportunities, plenty of cash, and we've got significant numbers of aircraft orders. It has not been disclosed how much Lauda paid to reacquire Niki.

Lauda improved an earlier offer and showed "commitment to Niki's base in Austria and openness to negotiating a collective agreement", works council chief Stefan Tankovits said.

Apparently, Niki's joint administrators, Ulla Reisch and Lucas Floether have said Lauda's bid was the most convincing.

Related news:

Hot News

isis-killer-beheading-video-story-top Indiana Senate panel delays vote on hate crime bill
Jan 24, 2018 - 11:25
Both bills would make it legal for stores to sell carryout alcoholic beverages between Noon and 8 p.m. on Sundays. The Senate voted 39-10 to repeal the Prohibition-era Sunday sales ban.

isis-killer-beheading-video-story-top Camels Were Disqualified From A "Camel Beauty Contest" For Using Botox
Jan 24, 2018 - 11:24
The contest witnessed camels walking down a racetrack as judges marked the size of their lips, cheeks, heads and knees. Twelve camels have been disqualified from a camel beauty competition for their owners having used botox.

isis-killer-beheading-video-story-top Davidson High School Student Arrest for Gun on Bus
Jan 24, 2018 - 11:21
They also found a picture of the student with a gun in his waistband wearing the same clothes he did on Friday during school. An additional arrest warrant is being created for having a weapon on school property and breach of peace.

isis-killer-beheading-video-story-top Missing California man thought to be in pipe; water emergency declared
Jan 24, 2018 - 11:20
The body of Tory Robert Mayes of Pollock Pines has been recovered following an extensive search by emergency responders. A missing Northern California man is believed to have fallen into a water pipe at a lake along Highway 50 in the Sierra.

isis-killer-beheading-video-story-top Nothing new in Shiv Sena boss' speech: BJP
Jan 24, 2018 - 11:20
The Sena's social media module has beaten other parties - the fact that the Congress, the BJP and NCP are concerned about. On the occasion, the Sena also passed a resolution to elevate Uddhav Thackeray's PA Milind Narvekar as a party secretary.

isis-killer-beheading-video-story-top Jordan Peele 'ugly cries' as Get Out receives four Oscar nominations
Jan 24, 2018 - 11:16
Here are some of the biggest shake-ups from previous years, as seen through ( most but not all of) the Best Picture nominees. The movie, written by Canadian filmmaker Anita Doron, also got a Golden Globe nomination for best animated film.

isis-killer-beheading-video-story-top Dems, GOP grow even further apart in views of Israel, Palestinians
Jan 24, 2018 - 11:14
Among Republicans, 52 percent view the Israeli leader favorably and 15 percent view him unfavorably. Pew Research Center surveyed 1,503 adults from January 10-15 with a margin of error of 2.9 points.

isis-killer-beheading-video-story-top Forget Status Yellow, tonight's wind warning has been upgraded to Orange
Jan 24, 2018 - 11:13
The new warning is an upgrade on the nationwide yellow wind warning which was issued yesterday for tonight. According to Met √Čireann , we can expect strong winds, heavy rainfall and thunder.

isis-killer-beheading-video-story-top Time to Reconsider Amazon.com, Inc. (AMZN) After Touching All Time High?
Jan 24, 2018 - 11:11
Bezos sold 391,110 shares of the company's stock in a transaction dated Wednesday, November 1st. $2.67M worth of Amazon.com, Inc. The stock has a market cap of $623,822.06, a PE ratio of 336.88, a price-to-earnings-growth ratio of 7.62 and a beta of 1.46.

isis-killer-beheading-video-story-top How to watch Seamus Coleman's return from injury for Everton's U23s tonight
Jan 24, 2018 - 11:08
Yep, Everton's Under 23s now have a better full back pairing than the first-team. Everton full-back made a return for the under-23s last night.

isis-killer-beheading-video-story-top Arsenal raise original bid to push through Aubameyang deal
Jan 24, 2018 - 10:59
Arsenal fans are convinced Pierre-Emerick Aubameyang will take Thierry Henry's legendary No.14 shirt. The Bundesliga side confirmed on Saturday they had received a bid for the Gabonese global .

isis-killer-beheading-video-story-top Jones extends LSU Super Bowl streak to 17
Jan 24, 2018 - 10:57
Fans told 22News they had no doubt the Patriots would come back and get the victory. "I think in training camp", he says. Brady expects to get his stitches out this week and should be fine for Super Bowl LII .

isis-killer-beheading-video-story-top Martial strikes as Manchester United edge past Burnley
Jan 24, 2018 - 10:54
Mourinho watched Anthony Martial score the only goal of the game against Burnley to hand United their fourth consecutive win. "I think it is so close, so close, so close that if it doesn't happen it's not going to happen.

isis-killer-beheading-video-story-top Jordan Scarlett, 3 others reinstated to Florida football team
Jan 24, 2018 - 10:47
Each of them made one charge with a stolen credit card number, ranging in value from $500 to $2,000, authorities said. The absences of Houston and Miller greatly depleted an already-thin linebacking corps for UF.

isis-killer-beheading-video-story-top Delhi markets to remain shut tomorrow to protest sealing drive
Jan 24, 2018 - 10:47
Delhi Chief Minister Arvind Kejriwal on Tuesday urges Centre to bring Ordinance, if required to protect traders from sealing. Del govt offers all cooperation to Centre, whatever is needed.