December 29, 2017 / 8:18 PM / in 10 months

BA owner IAG to buy insolvent Austrian holiday airline Niki

FRANKFURT, Dec 29 (Reuters) - British Airways’ owner IAG said on Friday it would buy Niki, Air Berlin’s insolvent Austrian holiday airline, for 20 million euros ($24.01 million) and provide additional liquidity to the company of up to 16.5 million euros.

The sale to IAG, which had been in exclusive talks for the airline, is the final chapter in the demise of Air Berlin, the No. 2 German air carrier that previously owned Niki and filed for insolvency earlier this year. ($1 = 0.8329 euros) (Reporting by Tom Sims; Editing by Gareth Jones)

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