IAG to buy NIKI assets for EUR20m

    International Airlines Group (IAG) announced (29-Dec-2017) plans to buy assets of NIKI for EUR20 million and provide liquidity to NIKI of up to EUR16.5 million. The transaction is being made by a newly formed subsidiary of Vueling which will be incorporated as an Austrian company and run initially as a separate operation, subject to customary closing conditions such as the EC competition approval. The assets include up to 15 A320 family aircraft and a slot portfolio at various airports including ViennaDusseldorfMunichPalma and Zurich. The new company plans to employ approximately 740 former NIKI employees to run the operation. IAG CEO Willie Walsh stated: “NIKI was the most financially viable part of airberlin and its focus on leisure travel means it’s a great fit with Vueling. This deal will enable Vueling to increase its presence in AustriaGermany and Switzerland and provide the region’s consumers with more choice of low cost air travel”. [more – original PR]