LaudaMotion, Eurowings to end cooperation
Eurowings will end its cooperation agreement with Austrian startup LaudaMotion by the end of May, LaudaMotion confirmed. The move follows the April 11 announcement that German leisure carrier Condor is also ending its cooperation with the startup carrier by the end of the month. Both announcements come after LaudaMotion founder Niki Lauda agreed to sell a 24.9% stake to Ryanair March 28, with the option of taking the share up to 75% following regulatory approvals. Ryanair is investing close to E100m into the equity as well as startup support. LaudaMotion was created using assets acquired from Austrian carrier NIKI, which Lauda also founded. NIKI became a 100% subsidiary of airberlin in 2011, but ceased operations in December after airberlin went into bankruptcy in October. Lufthansa had wanted to acquire NIKI, but was blocked by European competition authorities. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-04-25/unaligned/laudamotion-eurowings-to-end-cooperation
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LaudaMotion, Eurowings to end cooperation
Eurowings will end its cooperation agreement with Austrian startup LaudaMotion by the end of May, LaudaMotion confirmed. The move follows the April 11 announcement that German leisure carrier Condor is also ending its cooperation with the startup carrier by the end of the month. Both announcements come after LaudaMotion founder Niki Lauda agreed to sell a 24.9% stake to Ryanair March 28, with the option of taking the share up to 75% following regulatory approvals. Ryanair is investing close to E100m into the equity as well as startup support. LaudaMotion was created using assets acquired from Austrian carrier NIKI, which Lauda also founded. NIKI became a 100% subsidiary of airberlin in 2011, but ceased operations in December after airberlin went into bankruptcy in October. Lufthansa had wanted to acquire NIKI, but was blocked by European competition authorities. <br/>
