VIENNA (Reuters) - Insolvent airline Niki’s new Austrian administrator Ulla Reisch plans to build on her German counterpart’s work and reach a solution for the airline within three weeks, she said.
Insolvency proceedings technically have to start from scratch after an Austrian court decided that the case, which so far has been handled in Germany, should move to Austria.
“We will not start from the beginning as if there had never been proceedings in this case,” Reisch told Reuters.
“I think a solution can be found within 2 to 3 weeks.”
British Airways owner IAG (ICAG.L), who agreed with the German administrator to buy Niki, declined to comment the Austrian decision.
Reporting by Shadia Nasralla and Alistair Smout, editing by Kirsti Knolle