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|International Airlines Group to Buy NIKI Assets|
The transaction is being made by a newly formed subsidiary of Vueling which will be incorporated as an Austrian company and run initially as a separate operation. It is subject to customary closing conditions such as the EC competition approval.
The assets include up to 15 A320 family aircraft and an attractive slot portfolio at various airports including
The new company plans to employ approximately 740 former NIKI employees to run the operation.
More details about the new subsidiary's branding and route network will be provided in due course, when appropriate.
This announcement contains inside information and is disclosed in accordance with the company's obligations under the Market Abuse Regulation (EU) No 596/2014.
Certain statements included in this report are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
Forward-looking statements can typically be identified by the use of forward-looking terminology, such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" and include, without limitation, any projections relating to results of operations and financial conditions of
It is not reasonably possible to itemise all of the many factors and specific events that could cause the forward-looking statements in this report to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy. Further information on the primary risks of the business and the risk management process of the Group is given in the Annual Report and Accounts 2016; these documents are available on www.iagshares.com.