NOVEMBER 6, 2003
Lauda goes back to airlines
Niki Lauda is back in the airline business again, having bought the Austrian subsidiary of the bankrupt German charter airline Aero Lloyd. Lauda is investing $4.5m in the airline, which has yet to be named, and intends to fly from Vienna to destinations all over Europe, offering discount prices for air travelers. Aero Lloyd went out of business last month after its banks withdrew their support. The Austrian company owns two planes.
Lauda was previously in charge of his own airline, which he ran from 1979 to 2000 when he sold out to Austrian Airlines. He then spent a period working as the team boss of Jaguar Racing in F1.
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