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German lawmaker slams EU for opposing sale of Niki to Lufthansa

Published Mon, Jan 1, 2018 · 09:50 PM
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Berlin

THE German government will probably lose a 150 million-euro (S$241 million) government-backed loan to insolvent Air Berlin because the European Union (EU) opposed Lufthansa's purchase of Air Berlin's Austrian unit, Niki, a senior member of Chancellor Angela Merkel's conservatives said on Sunday.

British Airways owner IAG said on Friday that it would buy Niki for 20 million euros and provide additional liquidity to the company of up to 16.5 million euros, closing the final chapter in the demise of Air Berlin. Air Berlin filed for insolvency earlier this year.

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