date: // code: 29392 // // // //

Lufthansa abandons takeover of Niki

The airline will therefore seek to close the wider Air Berlin acquisition, excluding the acquisition of Niki. It has also offered to give up numerous slots controlled by LGW to help further satisfy competition concerns.

Lufthansa’s withdrawal from the Niki takeover means Air Berlin’s administrators must now find another buyer for the airline, which has not filed for insolvency

Lufthansa abandons takeover of Niki

Germany’s flag carrier Lufthansa has abandoned its proposed takeover of Niki, the Austrian holiday airline owned by insolvent carrier Air Berlin.

Lufthansa agreed to buy half of Air Berlin’s assets for about €210m in October 2017, which included Niki and regional carrier LGW.

However, earlier this month the European Commission raised concerns that the deal would harm competition by creating monopolies on routes in Austria, Germany and Switzerland where Niki and Lufthansa compete.

In a statement, Lufthansa said it “offered extensive commitments” by giving up slots, but this was considered “insufficient” by the Commission.

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