NEWS ARENA

 Former motor racing champion Niki Lauda has won the bidding for the Niki airline he founded, convincing the insolvent carrier’s administrators in marathon talks and undoing an agreed deal with British Airways owner IAG ( ICAG.L ). video source >rauters The previously agreed sale of Niki to IAG fell through after two courts ruled the insolvency proceedings had to move to Austria from Germany. That cleared the way for other parties such as budget airline Ryanair ( RYA.I ) and Lauda to again bid for the carrier, which most recently was part of failed German airline Air Berlin ( AB1.DE ). Sponsored Niki’s creditors met on Monday to pick the best bid, and their meeting ran past midnight. “In the early hours of this morning Laudamotion GmbH emerged from a transparent bidding process as the best bidder,” Niki’s Austrian and German administrators, Ulla Reisch and Lucas Floether, said in a joint statement, referring to a company controlled by ...