Air Berlin to increase stake in Niki airline

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Frankfurt – German airline Air Berlin PLC says it will increase its stake in Austrian carrier Niki Luftfahrt GmbH, to 49.9 percent from 24 percent.

Air Berlin said late Tuesday it will pay 21.1 million euros ($28.6 million) to lift its stake.

Niki offers mainly holiday flights to European and North African destinations. Air Berlin is Germany’s second largest airline after Deutsche Lufthansa AG and offers European and long-haul flights. The two companies have been working together since 2004.

Based in Vienna, Niki is majority held by Niki Lauda, the former Austrian Formula 1 driver.