LONDON (Reuters) - British Airways owner IAG (ICAG.L) said on Tuesday it was hopeful that it could complete its agreed acquisition of Austria’s Niki quickly after a court ruled that the administration process should be conducted in Austria rather than Germany.
“IAG remains interested in the assets of Niki and is looking forward to the new process being completed promptly,” IAG said in a statement. It had agreed with German administrators to buy the holiday airline for 20 million euros and integrate it into its Vueling brand, before the court ruling threw that plan into doubt.
“The Group remains hopeful that Vueling can continue with its acquisition and safeguard up to 740 former Niki jobs in Austria and Germany.”
Reporting by Alistair Smout; editing by Jason Neely