Ryanair: Laudamotion takeover authorised by Commission
(CercleFinance.com) - In respect of European merger regulation, the Commission yesterday authorised Irish low-cost airline Ryanair Holdings to takeover LaudaMotion.
"LaudaMotion is the company through which Mr Niki Lauda re-acquired in January 2018 the assets of NIKI, the leisure air carrier he founded in 2003 and was then later integrated into Air Berlin. The assets of NIKI were for sale because in December 2017 Lufthansa decided not to acquire NIKI and NIKI immediately filed for insolvency," the Commission said.
The Commission particularly studied routes from Germany, Austria and Switzerland to the Mediterranean and the Canary Islands, markets where the two airlines' activities "overlap". It concluded that the merger would not raise competition concerns and has therefore allowed it to go ahead.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"LaudaMotion is the company through which Mr Niki Lauda re-acquired in January 2018 the assets of NIKI, the leisure air carrier he founded in 2003 and was then later integrated into Air Berlin. The assets of NIKI were for sale because in December 2017 Lufthansa decided not to acquire NIKI and NIKI immediately filed for insolvency," the Commission said.
The Commission particularly studied routes from Germany, Austria and Switzerland to the Mediterranean and the Canary Islands, markets where the two airlines' activities "overlap". It concluded that the merger would not raise competition concerns and has therefore allowed it to go ahead.
Copyright (c) 2018 CercleFinance.com. All rights reserved.