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school135perm Homepage > Equities > Xetra > Air Berlin Plc AB1 GB00B128C026

AIR BERLIN PLC (AB1)
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Insolvent Niki's Austrian workers to get monthly wages

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12/27/2017 | 04:19pm CET
Niki logo is seen at Vienna International Airport in Schwechat

Around 790 staff working for insolvent airline Niki (>> Air Berlin Plc) in Austria will be paid monthly wages for December, administrator Lucas Floether said on Wednesday, adding he was confident of striking a deal with a new investor in the next few days.

Around 790 staff working for insolvent airline Niki (>> Air Berlin Plc) in Austria will be paid monthly wages for December, administrator Lucas Floether said on Wednesday, adding he was confident of striking a deal with a new investor in the next few days.

The new owner would be expected to take on Niki's running costs, including salaries, from the beginning of January.

Among the four bidders selected for the final stages of talks to buy all or parts of Niki is IAG (>> International Consolidated Airlines Group), the owner of British Airways and low-cost carrier Vueling, three people familiar with the situation have said.

British tour operator Thomas Cook (>> Thomas Cook Group) and Niki's founder, former Formula One world champion Niki Lauda, are also among the bidders. A German newspaper had also named Tuifly, the airline of tour operator TUI <TUIT.L>, as a bidder.

A spokesman for Floether said the talks were "going at full speed", but declined to reveal further details.

Lauda, who set up the airline in 2003, said he had been told a decision was to be made on Dec. 28.

The Niki staff in Austria should probably Austria get their wages by the end of the month, Floether said. The airline also employs around 200 people in Germany.

"Our aim remains to preserve as many jobs as possible in Austria and Germany. This task is one of the central questions in the ongoing ... process," Floether said in a statement.

Niki was part of collapsed Air Berlin. It filed for insolvency after Germany's Lufthansa (>> Lufthansa Group) backed out of a deal to buy its assets on competition concerns, grounding the fleet and stranding thousands of passengers.

The administrators have been racing to find an alternative buyer for its assets before it loses its takeoff and landing slots, its most attractive asset.

(Reporting By Shadia Nasralla, Ilona Wissenbach; Editing by Keith Weir)

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Financials (€)
Sales 2017 3 114 M
EBIT 2017 -179 M
Net income 2017 -
Debt 2017 1 498 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0,48x
EV / Sales 2018 0,46x
Capitalization 4,26 M
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Mean consensus UNDERPERFORM
Number of Analysts 1
Average target price 0,01 €
Spread / Average Target -73%
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Managers
NameTitle
Thomas Winkelmann Chief Executive Officer & Executive Director
Gerd Becht Chairman
Oliver Iffert Chief Operating Officer
Courtelis Dimitri Chief Financial Officer
Joachim Edmund Hunold Co-Vice Chairman
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