NIKI files for insolvency, grounds operations

Germany's Bundesregierung (Federal Government) announced (13-Dec-2017) the grounding of NIKI and commencement of insolvency proceedings at the local court of Berlin-Charlottenburg. Bundesregierung stated: "We very much regret the decision of the European Commission regarding NIKI. The Federal Government would have wished for a friendly solution between the European Commission and Lufthansa". Bundesregierung added its EUR150 million bridging loan provided to Air Berlin PLC "may only be partially repaid" as a result. NIKI, via its official website, announced all air traffic under its 'HG' designator code will be discontinued as of 14-Dec-2017. [more - original PR - German]