German lawmaker slams EU for opposing sale of Niki to Lufthansa
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US