Insolvent Air Berlin races to find new buyer for Niki

BERLIN, Dec. 14 (Xinhua) -- Air Berlin's insolvency administration is racing to find a new buyer for its subsidiary airline Niki after Lufthansa withdrew its offer to buy the firm, German media reported on Thursday.

A trade union representative told press that he was aware of "three to four interested parties," including former Austrian Formula 1 champion Andreas Nikolaus "Niki" Lauda who originally founded Niki and gave it his nickname.

Niki insolvency administrator Lucas Floether confirmed he would hold talks with potential buyers over the course of Thursday in a last-ditch attempt to save the company.

The Air Berlin subsidiary was forced to declare insolvency and cease operating within hours of Lufthansa's decision to drop the takeover offer.

Air Berlin now has a window of only a few days to find a new investor, or Niki will have to cede its valuable starting and landing rights at European airports to their respective operators for re-allocation.

Floether expressed hope that British Airways' mother corporation International Airline Group (IAG) or the travel company Thomas Cook would reconsider making an offer after both firms unsuccessful bid for Niki in the original tender won by Lufthansa.

All of Niki's jets will be grounded as of midnight on Thursday. As a consequence, at least 5,000 passengers are stranded at airports within the next two weeks alone.

Long queues formed at airport travel desks as Air Berlin customers scrambled to book new tickets.

The Federal Association of the German Air Traffic Industry (BDL) announced that it would offer its assistance to ensure travellers could return home with different airlines without additional cost. However, passengers who had booked package holidays would have to turn to their travel operators for help.

European Union competition authorities at the European Commission voiced their regret over the course that events at Niki had taken. Around 1,000 jobs are at risk. Enditem