The failure of sale of Air Berlin subsidiary Niki to Lufthansa may cost Confederation millions. “Due to unexpected loss of proceeds from sale of Niki, KfW loan granted by Confederation to Air Berlin may only be partially repaid,” federal government shared. It’s about a loan of 150 million euros. The Confederation will do everything to limit damage to taxpayer.
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According to federal government, Austrian company subsidiary of insolvent Air Berlin, Niki, expects to cease operation. “Alternative buyers for Niki stood still and are not available, despite all sorts of public announcements and intense efforts by general agent of Air Berlin,” said government spokesman Steffen Salmon. Previously, sale had failed because Lufthansa had withdrawn its offer. The reason was that Lufthansa had no longer expected that EU Commission would approve takeover, said Air Berlin.
With withdrawal, Lufthansa, according to EU Commission’s own information, makes furr concessions to be able to take over or parts of Air Berlin. The EU Commission is critical of takeover for reasons of competition law and wanted to decide by 21 December. The EU competition watchdogs had asked Air Berlin to look for alternative bidders. But that was not successful.
According to company’s own data, Air Berlin is currently considering recycling alternatives for Niki Airline GmbH. According to creditors ‘ committee, however, only Lufthansa is eligible for rescue of Niki. Niki has been dependent on Lufthansa for months, so far group has supported Air Berlin subsidiary with a double-digit million amount. An insolvency would mean “that just before Christmas 1,000 employees lose ir work, 10,000 passengers are stranded and hundreds of thousands of tickets lose ir validity,” said creditors.
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Austria’s Government provided state aid to bring back stranded passengers. If Niki passengers have to be brought back from abroad, Government will commission Austrian Airlines to do so, reports Austrian news agency APA, citing Ministry of Transport. The government will finance necessary payments. Details would have to be clarified.
Lufthansa wants to continue to buy Air Berlin subsidiary LG Walter
In recent months, companies such as Thomas Cook and British Airways parent company IAG have shown interest in Niki. The acquisition of or Air Berlin subsidiary, LG Walter, was to be held, Lufthansa said. However, European Commission must also agree to this purchase.
The sale of remains of Air Berlin also depends on loan of 150 million euros granted by federal government to bankrupt airline in August. This should allow Air Berlin to maintain its flight operations by end of November. The credit was controversial. Ryanair chief Michael O’Leary had criticized state aid for example as indirect illegal aid for Lufthansa. The EU Commission had approved loan, but under conditions: loan should only be paid in instalments, and federal government must ensure that loan is fully repaid or a settlement plan is submitted.
