Following the opening of insolvency procedures for low-cost carrier Niki in Austria on Friday, International Airlines Group has confirmed it plans to continue with the acquisition of the assets of the stricken carrier.
On December 29th last year, IAG announced plans for a subsidiary of Vueling to buy the assets of the Austrian airline.
The carrier was formerly part of the airberlin group, which entered liquidation last year.
IAG hopes to complete the deal for €20 million and plans provide liquidity to Niki of up to €16.5 million.
The airline group confirmed it had been in discussions with both the Austrian and German administrators and continues to follow developments closely.
IAG said it believes there is a desire from all parties involved for the process to be resolved quickly.
A statement confirmed: “IAG remains interested in the assets of Niki and is looking forward to the new process being completed promptly.
“The group remains hopeful that Vueling can continue with its acquisition and safeguard up to 740 former Niki jobs in Austria and Germany and provide airline customers in Austria, Germany and Switzerland with a greater choice of flights.”
The news comes as Niki Lauda re-emerged as a potential bidder for Niki.
Lauder founded the airline in 2003 and remains keen to regain control.
A bid from former Formula 1 world champion is expected by the end of the week.