Niki keeps runway slots as bidders swarm
Air Berlin Plc
0.00p
07:45 20/03/24
After filing for insolvency on 14 December, Air Berlin's low-cost unit, Niki, has been allowed to retain its much sought after runway slots until such a time as the Austrian Transport Ministry had completed its examination of the airline's insolvency filing.
Niki filed for insolvency after Lufthansa, which was gearing up to purchase most other parts of Air Berlin, decided against picking up Niki in the process, leading to the carrier's entire fleet being grounded, stranding several thousand passengers.
Niki workers' council chief said on 15 December that the division would lose its runway slots and take-off and landing rights if a sale was not agreed upon within seven days, but a spokesman for regulatory body Austro Control advised that no such deadline existed and that the slots - one of Niki's most appealing assets - remained untouched while the ministry researched the group's insolvency paperwork.
"I cannot say anything about the length of the investigation for which there are no designated deadlines. The investigation at the Transport Ministry has been ongoing since (Niki) filed for insolvency," the spokesman said.
IAG, British Airways parent company, was said to be interested in purchasing Niki, as were Thomas Cook, Ryanair, and founder and former Formula One champion Niki Lauda.
Bidders had until Thursday to submit offers for the airline, but Lauda said that he did not anticipate any decision on the company's future would be made before Christmas.
As of 1400 GMT, Air Berlin shares had dropped a further 2.44% to €0.0400 each.