World Economy

IAG Discusses Niki Purchase

IAG Discusses Niki PurchaseIAG Discusses Niki Purchase

International Airlines Group, which operates British Airways and Iberia, is the only remaining bidder for insolvent budget carrier Niki, German media have reported, with a contract likely to be signed within days, DW reported. IAG was in exclusive talks to buy the former subsidiary of insolvent Air Berlin, a source close to the process told the German news agency DPA on Thursday, after Niki’s administrator said that one bidder out of four had remained. “IAG is the last remaining bidder and is still negotiating now,” the person was quoted as saying by DPA. Reportedly, IAG had made “the highest bid” in the range of “a double-digit million-euro amount.” German newspaper Bild put the figure at around €40 million ($48 million) without citing sources. A spokesman for Niki insolvency administrator Lucas Flother, however, refused to confirm the media reports, saying only that the provisional creditors’ committee for Niki “decided to continue sales negotiations for the business operations of the company exclusively with one bidder for now.”

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