Niki Lauda sold half of Fly Niki to Air Berlin

The majority owner of Austrian low-cost airliner Fly Niki, Niki Lauda, announced yesterday in Vienna that he had sold additional 25.9% of the company's shares for 21m EUR to German partner Air Berlin, which had increased its share in Fly Niki to 49.5% in that way.

He pointed out at the press conference that that share would be transferred to Air Berlin's ownership in mid-April and pointed out that he would stay the majority owner and "boss in his own airliner".

Former Formula 1 ace wants to stay the CEO of Fly Niki for more than the agreed three years.

After this transaction, Lauda's foundation will reduce its share in Fly Niki from 76 to 50.1%, and it will also receive the loan of 40.5m EUR from the German company. Within the next three years, Lauda can either repay the loan or sell the remaining package of stocks to Air Berlin, which may become the sole owner of Fly Niki in that way.

As Lauda said yesterday, he intends to repay the loan in three years if the business stays as it is now.

He underlines that Fly Niki, although Air Berlin now owns 49.9% of the company's stocks, "will remain Austrian company".

Lauda denied media reports that the share in the company was sold because of financial problems.

- We currently have 50m EUR on our giro-account. One year ago, we had 15.5m EUR - said he.