Lauda Sells 24% Stake In "Niki" To Air Berlin
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Lauda Sells 24% Stake In "Niki" To Air Berlin
German discount fares airline Air Berlin took a 24-percent stake in Austrian no-frills carrier Niki on Friday as the two laid out unprecedented plans for cooperation in the European budget sector.
Air Berlin and Niki, majority owned by former Formula One motor racing champion Niki Lauda, will coordinate destinations and schedules as well as sharing sales, marketing and logistics infrastructure to keep down costs.
Lauda and Air Berlin managing partner Joachim Hunold told a joint news conference they would also cooperate to open new routes into eastern Europe, where economic growth is faster than in the west and new middle classes are eager to travel.
"The cheap-airline concept is the future, but right now it is just one discount airline flying against the other," Lauda told reporters. "Therefore it was logical for me to look for a suitable partner with whom I can build up the eastern Europe business," he added.
Neither carrier would comment on the price of the Niki stake sold to Air Berlin.
Lauda launched Niki in November with two Airbus planes, a 174-seat A320 and a 210-seat A321, after buying a majority stake in the Austrian arm of bankrupt German charter carrier Aero Lloyd.
Similar operations are sprouting up across Europe where no-frills sector leaders Ryanair and easyJet are stripping market share from traditional airlines.
Niki plans to add two more Airbus A321 aircraft in April. It flies from Vienna to leisure destinations in Egypt and Spain's Canary and Balearics islands.
Hunold said Niki would start flying to Palma de Mallorca to add a Vienna connection to the vacation destination that Air Berlin already serves from Germany, London and Spain.
Air Berlin flies from 18 German airports to 42 destinations in Europe, Turkey and northern Africa, Hunold said.
New destinations in eastern Europe were not yet finalized, the two carriers said.
Air Berlin and Niki, majority owned by former Formula One motor racing champion Niki Lauda, will coordinate destinations and schedules as well as sharing sales, marketing and logistics infrastructure to keep down costs.
Lauda and Air Berlin managing partner Joachim Hunold told a joint news conference they would also cooperate to open new routes into eastern Europe, where economic growth is faster than in the west and new middle classes are eager to travel.
"The cheap-airline concept is the future, but right now it is just one discount airline flying against the other," Lauda told reporters. "Therefore it was logical for me to look for a suitable partner with whom I can build up the eastern Europe business," he added.
Neither carrier would comment on the price of the Niki stake sold to Air Berlin.
Lauda launched Niki in November with two Airbus planes, a 174-seat A320 and a 210-seat A321, after buying a majority stake in the Austrian arm of bankrupt German charter carrier Aero Lloyd.
Similar operations are sprouting up across Europe where no-frills sector leaders Ryanair and easyJet are stripping market share from traditional airlines.
Niki plans to add two more Airbus A321 aircraft in April. It flies from Vienna to leisure destinations in Egypt and Spain's Canary and Balearics islands.
Hunold said Niki would start flying to Palma de Mallorca to add a Vienna connection to the vacation destination that Air Berlin already serves from Germany, London and Spain.
Air Berlin flies from 18 German airports to 42 destinations in Europe, Turkey and northern Africa, Hunold said.
New destinations in eastern Europe were not yet finalized, the two carriers said.
