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Lauda pips IAG to the finish line to win back Niki
Three-time Formula 1 world champion Niki Lauda has succeeded in his bid to buy back budget airline Niki. He founded the business in 2003, but sold his remaining stake to Air Berlin in 2011. Air Berlin itself subsequently collapsed in August last year, leaving Niki among the assets being sold off by administrators. Lauda's initial attempt to negotiate a deal were thwarted when courts ruled insolvency proceedings would be held in Germany. A provisional deal to sell Niki to British Airways parent IAG was agreed. However Lauda successfully appealed for the matter to be returned to Austrian jurisdiction. He submitted a bid before the new deadline, and creditors met on Monday evening to decide...
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