German, Austrian administrators cooperate to secure deal for Niki

Settling a legal dispute, airline Niki's German and Austrian administrators agreed to cooperate to resolve the insolvent carrier's future swiftly and guarantee legal certainty for its buyer. New offers can be made for Niki until Friday and a decision will follow within days, German administrator Lucas Floether and his Austrian counterpart Ulla Reisch said Tuesday. "The signatures of both administrators will guarantee the buyer legal security for the closing of the sales contract," Floether and Reisch said. After hurried talks to ensure Niki retained valuable runway slots, IAG agreed with the German administrator to buy the business for E20m and make it part of low-cost unit Vueling. The deal was put at risk last week after a German and an Austrian court independently ruled that Niki's insolvency proceedings had to move to Austria. <br/>