Air Berlin boosts FlyNiki holding

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Air Berlin has increased its stake in NIKI Luftfahrt, parent of Austrian low-cost carrier FlyNiki, from 24% to 49.9%.

The German airline, which paid €21 million ($28.5 million) for the additional shares, has also provided FlyNiki with a €40.5 million loan.

This loan is repayable within three years, either in cash or by transfer of the remaining 50.1% of FlyNiki shares to Air Berlin.