Luther advises IAG on acquisition of NIKI

IAG, International Consolidated Airlines Group, is to acquire significant assets of insolvent NIKI Luftfahrt GmbH, Vienna, using a newly incorporated subsidiary of its Spanish low-cost carrier Vueling Airlines S.A.  The purchaser has been advised in this transaction by Luther Rechtsanwaltsgesellschaft.

Following Lufthansa’s withdrawal from its proposed acquisition of NIKI Luftfahrt GmbH for antitrust reasons, IAG entered the bidder process set up by Prof. Dr. Lucas Flöther as preliminary insolvency administrator over the assets of NIKI, to acquire assets of the insolvent NIKI.

On 29 December 2017, a Vienna-based subsidiary of Vueling Airlines S.A. entered into an agreement to acquire assets including up to fifteen aircraft and a package of attractive take-off and landing rights (slots), including Vienna, Dusseldorf, Munich, Palma de Mallorca and Zurich.

The transaction is subject to customary closing conditions such as EC competition approval.

IAG was advised by external legal advisers at Luther (Germany) and bpv Hügel (Austria).

For IAG / Vueling:

Luther Rechtsanwalts GmbH:

Lead: Dr. Andreas Kloyer and Susanna Fuchsbrunner, LL.M. (both Partner M&A, Munich/Frankfurt, Susanna Fuchsbrunner also Aviation Law),

Andrea Metz, LL.M. (Partner Insolvency Law/M&A, Frankfurt),

Dr. Helmut Janssen, LL.M. (Partner Antitrust Law, Brussel),

Dr. Christian Rodorff, LL.M. (Partner M&A, Munich)

bpv Hügel Rechtsanwälte GmbH:

Lead: Dr. Elke Napokoj, LLM. (Partner M&A/Corporate, Vienna)

Mag. Stefan Gaug, LLM. (Partner M&A, Vienna)

Dr. Michaela Pelinka, LLM (Partner M&A, Vienna)

Dr. Bernhard Schatz (Partner Insolvency Law, Baden)

DDr. Christian F. Schneider (Partner Aviation Law, Vienna)

For Prof. Dr. Lucas Flöther as preliminary insolvency administrator over the assets of NIKI Luftfahrt GmbH:

Freshfields (Vienna, Frankfurt, Berlin)