Austrian former racing driver Niki Lauda has been selected to buy the assets of Niki, the airline he founded in 2003, the administrators of the former Air Berlin subsidiary said Tuesday.

Lauda's bid was preferred over Spanish-British group AIG/Vueling. It was the third offer the former Formula One driver had made since September for Niki -- formerly a unit of now bankrupt Air Berlin, and most recently operated by Lufthansa.

Source:AFP