FlyNiki grounded

[rotorwills]

Real shame, Flew On his brand new 777 to Sydney 1997, in the front and food and service was excellent. Cabin crew, all attractive young girls, in blue jeans and red shirts and baseball caps. Even had a guy dressed as a chef handling food prep. Wine was too good for altitude drinking. Cannot see Nikki being interested in taking on any more aviation stuff. He appears to be really happy as Toto’s FO. Lol

Merry Xmas to all and hope all crew find some positions quickly.

[alserire]

From EI Facebook page if anyone hasn't seen it and is looking for a job now Niki is gone.

"We're hosting open pilot recruitment information sessions in Vienna for former NIKI type-rated pilots.

WHEN: Saturday 16th of December at 1pm, 3pm & 5pm
WHERE: Radisson Blu Style Hotel (Boardroom), Herrengasse 12, 1010 Vienna."

[pabely]

And here comes MOL again to stir things up Ryanair says in touch with administrators over Niki assets - Nasdaq.com

[a350pilots]

This would give O Leary the pieces he needed to declare war against Lufthansa

[Low Level Pilot]

"Yet when even a third-world flag of convenience shipping line goes bust the ship can be impounded until the crew are paid."

Under maritime law crew, if unpaid, can have a lien imposed upon the ship (writ "nailed" to the mast) until they receive their wages. However if they leave the ship and return home they would lose their right. Can take months to sort out. Would you want to stay aboard your plane until all is sorted, or would you be better off getting out and finding a job elsewhere asap? Recently a case in UK were a crew (Indian I think) remained on board for over 12 months. First time the ship went up for auction not enough money raised so more delay until a buyer appeared.

[ShotOne]

I wasn't suggesting the two situations are the same, llp but at least there is a statutory means for the crew to receive what they are owed. In the end the Indian crew you mentioned got paid in full -unlike almost every flight-crew victim of airline bankruptcy

[Alpine Flyer]

Austria has a national funds to secure employees salaries and severance payments in case of bankruptcy. All employers pay into this funds. Payments are limited to 9720€ per month of salary owed but this should cover most Niki pilots.

While Mr. Lauda certainly had good ideas to improve flying as a product, he denied his staff at Lauda Air a CLA for over a decade and tried to run Niki through a crew leasing company. His fleet and network planning at both Lauda Air and Niki are perceived to be a bit "impulsive" and the deal he made on selling either seems to have benefited him more than the respective buyers. This has not stained his image as an aviation expert in Austria. It remains to be seen whether he will involve himself in a re-born Niki and whether that will benefit someone else this time.

[The Old Swedish]

Originally Posted by a350pilots

But maybe not on such a level other airlines require it to be?

Apart from that, Monarch flight operation standards were not comparable to those of Niki, which was more some sort of a Cowboy operator. Insiders do know what they talk about.

Facts please. Otherwise keep your arrogance for yourself.

[brakedwell]

Originally Posted by a350pilots

But maybe not on such a level other airlines require it to be?

Apart from that, Monarch flight operation standards were not comparable to those of Niki, which was more some sort of a Cowboy operator. Insiders do know what they talk about.

Please explain or shut up!

[lederhosen]

It seems that Lufthansa has already acquired most of the Niki fleet (which was leased) in separate transactions. This makes it a bit difficult for anyone else to take it over.

[Kerosene Kraut]

Their fine print seems to require LH have to hand over whatever aircraft they have taken from Niki's fleet IF somebody else should finally buy what is left instead of them.
Mind you the EU is still investigating LH's main AB-deal for anti trust issues. They are not through yet.

[Martin2108]

I don't see EU antitrust involvment. LH negotiated directly with the leasing companies to acquire the planes.

[lederhosen]

Whose fine print is that? Kebekus the AB liquidator is reported as having informed Lauda to this effect, also confirmed by Wöhrl. I cannot see the liquidator having any interest in putting off potential investors. But if you have a source Kerosene Kraut, please provide it.

[Kerosene Kraut]

I have only some german language source (from Austria):
https://diepresse.com/home/wirtschaf...mte-NikiFlotte

"Niki-Flugzeuge im Eigentum der Lufthansa müssen zu Marktkonditionen an einen künftigen Niki-Käufer weitergegeben werden."
Niki-aircraft owned by LH now have to be given to Niki's buyer at market conditions.(EU requirement)

[widgeon]

Ref Insolvency.
Having just been through it I speak from experience. The secured creditors have the first call on any proceeds from sale of assets ( normally the bank ) if any thing is left after this the employees are paid and then any unsecured creditors ( all the unlucky suppliers) . There is Government scheme that pays up to $2,000 to employees to cover unpaid wages and severence. This in in Canada, not sure what the EU rules are but i would suspect they are similar .

[widgeon]

Ref Insolvency.
Having just been through it I speak from experience. The secured creditors have the first call on any proceeds from sale of assets ( normally the bank ) if any thing is left after this the employees are paid and then any unsecured creditors ( all the unlucky suppliers) . There is Government scheme that pays up to $2,000 to employees to cover unpaid wages and severence. This in in Canada, not sure what the EU rules are but i would suspect they are similar .The only one who wins in any insolvency is the receiver who has all their fees ( sometimes substantial) covered by proceeds of the asset sale.

[G-CPTN]

What happens if there is insufficient assets to cover the receiver's fees - who pays then?

[Midland 331]

As a long-term self-employed small businessman, having suffered a number of customer insolvencies, my observation is that the receivers always (but always) seem to find their fees from somewhere. Also, the figure of £250/hour seems to come to mind from one of them.

[ExXB]

Originally Posted by Martin2108

I don't see EU antitrust involvment. LH negotiated directly with the leasing companies to acquire the planes.

EU competition law (not anti-trust) requires the EC to evaluate the effects on the market by LH’s acquisition of Air Berlin’s assets. The Commission would be much happier if anyone but LH acquired slots and aircraft and operated now-monopoly routes in competition with LH.

Could the same result, or better, be accomplished by sale of assets to someone else? This is a tough one, but they likely with OK the deal with LH being asked to make some concessions. It could cost them some slot pairs at the most congested airports. They will have to decide if that’s in their best interests. Only time will tell.

[The Old Swedish]

So, in his opinion, you must have seen pretty substandard operations if you consider Niki as high standard.