owner to buy bankrupt austrian airline niki
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

owner to buy bankrupt Austrian airline Niki

Arab Today, arab today

Arab Today, arab today owner to buy bankrupt Austrian airline Niki

Around 740 of Niki's 1,000 employees will be hired by IAG.
London - Arab Today

British Airways owner IAG announced Friday it will snap up bankrupt Austrian airline Niki, outlining plans to keep on hundreds of the carrier's staff.

The deal will see IAG pay 20 million euros ($24 million, £17.8 million) for Niki assets and provide liquidity of up to 16.5 million euros to the airline, the buyer said in a statement.

Around 740 of Niki's 1,000 employees will be hired by IAG, which will incorporate its new venture as a subsidiary of its no-frills Spanish airline Vueling.

"This deal will enable Vueling to increase its presence in Austria, Germany and Switzerland and provide the region's consumers with more choice of low cost air travel," said IAG chief executive Willie Walsh.

Niki hit turbulence when parent Air Berlin went bankrupt earlier this year and was forced to stop flying on December 14, leaving thousands of passengers stranded.

Lufthansa had been lined up to buy Niki as part of the German carrier's broader takeover of Air Berlin assets, but dropped the plans over EU competition concerns.

The newly-announced deal will see IAG buy up to 15 planes in Niki's fleet of around 20, which served resorts in southern Europe and north Africa, as well as take on runway slots at airports including Vienna, Munich and Zurich.

While 2017 has been a bruising year for some European airlines -- after the collapse of Air Berlin and Monarch Airlines in the UK, and as Alitalia in Italy went into administration -- IAG has bucked the trend.

The Anglo-Spanish group, owner also of Aer Lingus and Iberia, has said it expects underlying operating profit to hit three billion euros in 2017, a 20-percent jump on the year before, thanks to rising demand and falling costs.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

owner to buy bankrupt austrian airline niki owner to buy bankrupt austrian airline niki

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

owner to buy bankrupt austrian airline niki owner to buy bankrupt austrian airline niki

 



GMT 07:23 2017 Saturday ,16 December

Leadership congratulated by Arab, Islamic leaders

GMT 22:02 2017 Saturday ,23 September

HRH Premier congratulates Saudi Crown Prince

GMT 23:17 2017 Thursday ,08 June

Saudi-backed forces seize Aden airport

GMT 11:54 2016 Monday ,19 December

5 Taliban militants killed in Afghan eastern province

GMT 20:33 2017 Monday ,18 September

Foreign Minister attends UN reform meeting

GMT 18:19 2014 Thursday ,21 August

Al-Ibrahim: Kabad water treatment plant major project

GMT 15:35 2017 Saturday ,04 March

8 more Al-Qaeda men killed by US in Yemen raids

GMT 06:11 2017 Sunday ,29 January

Boko Haram raid kills at least 3 Nigerian soldiers

GMT 03:54 2017 Friday ,17 February

Sharjah Media Council set up through a decree issued

GMT 16:56 2017 Friday ,03 February

After oil and gas, Denmark's Dong ditches coal energ

GMT 12:38 2017 Monday ,13 February

HEIO London appoints Platform Creative

GMT 16:13 2018 Monday ,29 October

Georgia presidential election to go to runoff
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday