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Formula One Champion Niki Lauda Rescues Airline Named After Him

  • Austrian insolvency administrator says ex-racer made best bid
  • IAG had seemed poised for deal after Lufthansa dropped out
Operations Inside Vienna International Airport, Operated By Flughafen Wien AG

Photographer: Lisi Niesner/Bloomberg

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Former Formula One motor-racing champion Niki Lauda is poised to take back control of the airline that bears his name after fending off a rival bid from British Airways owner IAG SA.

Lauda made the best offer for Niki Luftfahrt GmbH, the Vienna-based leisure carrier that was left insolvent following the collapse of its parent Air Berlin Plc, an Austrian insolvency administrator said in a statement Tuesday.