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Air Berlin's Niki grounded after Lufthansa drops bid

14 Dec 2017 11:20:48

reuters.com

Lufthansa (LHAG.DE) has abandoned plans to buy Air Berlin (AB1.DE) unit Niki due to competition concerns, grounding Niki and making it the latest to join the list of Europe’s collapsed airlines this year.


Tough competition and falling ticket prices have led to the demise of Monarch and Air Berlin while Alitalia has filed for insolvency protection.


Air Berlin filed for insolvency in August and Lufthansa agreed a deal in October to buy its Niki and LGW businesses. However, Lufthansa said on Wednesday it was withdrawing the bid for Niki after the European Commission indicated it would not approve the deal.


Read full story: reuters.com

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