British Airways’ owner IAG said Friday it would buy Niki, Air Berlin’s insolvent Austrian holiday airline, for E20m and provide additional liquidity to the company of up to E16.5m. The sale to IAG, which had been in exclusive talks for the airline, is the final chapter in the demise of Air Berlin. IAG said Niki would become part of the low-cost carrier Vueling and would be incorporated in Austria, employing 740 of Niki’s 1,000 former employees. Assets include 15 A320 aircraft and slots at airports including Vienna, Dusseldorf, Munich, Palma and Zurich. “Niki was the most financially viable part of Air Berlin, and its focus on leisure travel means it’s a great fit with Vueling,” said IAG’s CE, Willie Walsh. Niki filed for insolvency earlier this month after Lufthansa backed out of a deal to buy its assets on competition concerns, grounding the fleet and stranding thousands of passengers. Niki’s administrators had been racing to find a buyer for its assets before it loses its takeoff and landing slots, its most attractive asset. “Niki is getting a financially strong partner with a long-term development concept,” said Lucas Floether, Niki’s insolvency administrator. The deal should close in February, he said.<br/>