Lauda beats IAG in battle to buy NIKI

Reuters reports that the administrators of the insolvent airline NIKI have chosen to sell it to the former Formula 1 champion Niki Lauda.

The sale was initially agreed with IAG, but bids were reopened when the proceedings were moved toAustria from Germany last week.

IAG has told reporters it is ‘disappointed that NIKI will not be able to develop and grow stronger as part of the group‘. 

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