FIFA plans to revamp Club World Cup, scrap Confederations Cup

first_img0Shares0000Real Madrid retained the Club World Cup in Abu Dhabi in December© AFP/File KARIM SAHIBLISBON, PORTUGAL, Apr 18 – FIFA has laid out plans to replace the Confederations Cup with an expanded Club World Cup that would only be held every four years from 2021, a source told AFP on Wednesday.According to a letter Gianni Infantino, the president of world football’s governing body, sent to the heads of the continental confederations, and that has been seen by AFP, the Confederations Cup would cease while the club tournament would no longer be played annually in December. It would now be held every fourth June in the year before a World Cup — just as the Confederations Cup was.Last year’s Confederations Cup in Russia — won by Germany — would therefore be the last.The competition would last 18 days. The new format means the club competition would interfere less with the rest of the football calendar, particularly in Europe.FIFA also faces the problem that while its principal tournament, the World Cup, is immensely lucrative and popular, neither the Confederations Cup nor the Club World Cup have been remotely as attractive to fans or sponsors.Clubs from the six confederations take part in the Club World Cup, but the gulf in quality can be embarrassingly large and only sides from Europe or South America have ever won it.Although Brazilian sides claimed the first three editions, only one of the last 11 has not been won by a European team — inaugural winners in 2000, Corinthians triumphed for the second time in 2012.In the United Arab Emirates in December, Real Madrid became the first club to retain the trophy when they beat Brazilians Gremio 1-0 with a goal by Cristiano Ronaldo.The changes dovetail with FIFA’s desire to build on plans already unveiled by UEFA, the European federation, and CONCACAF, which runs football in North and Central America and the Caribbean, for a Nations League to replace friendlies in the international calendar.The inaugural UEFA Nations League will begin in September of this year, with the top four teams going through to the finals in June 2019.The international governing body wants all the continents to set up similar competitions, using divisional formats, to be played in September, October and December of even-numbered years and culminating in an eight-team international tournament the following year.In order to finance its Nations League and the revamped Club World Cup, FIFA would look to team up with a consortium of private investors ready to invest some 25 billion dollars in the rights for the period from 2021 to 2033.0Shares0000(Visited 1 times, 1 visits today)last_img read more

ATHLETICS NEWS: FINN VALLEY FIXTURE LIST FOR 2014-2015 SEASON RELEASED

first_imgFinn Valley Fixture List, Oct. 2014 – Sept. 2015DATE EVENT VENUEOctober 2014 Sun 5th, 12noon Donegal Even Ages & Masters CC, MagheragallenSun 13th, 12noon Donegal Uneven Ages & Novice CC, CastlefinnSun 19th Gerry Farnan CC (Masters Trial) Phoenix ParkSat 25th Ulster Even Ages. 11.30am Jordanstown November 2014Sun 2nd Donegal Senior Cross Country, 12noon Finn Valley CentreSun 9th UAC Uneven Ages & Novice CC, 11.30am Kilinkere, CavanSat 15th British & Irish Masters CC EnglandSun 16th Remembrance 10k Finn Valley Centre Sun 23rd AAI Even Ages & Inter Counties CC TBCDecember 2014Sun 7th AAI Uneven Ages & Novice CC TBCSun 14th Turkey Trot 5k Letterkenny Sun 14th European Cross Country Championships BudapestWed 26th Finn Valley 5k Race & Walk. 2pm Finn Valley CentreJanuary 2015Sat 17th AAI Indoors Combined Events AthloneSat 17th ANI/UAC Intermediate & Masters CC ColeraineSun 25th Raheny 5 Mile Road Race DublinSun 25th AAI Jun & Under 23 Indoor Champs AIT AthloneSat/Sun 31st/1st UAC/ANI Juv Indoors Championships MagherafeltFebruary 2015Sun 1st AAI Open Games Athlone Gransha, DerryTues 3rd Ulster Schools ‘C’ District Cross Country Coleraine Gransha, DerrySun 8th AAI Intermediate & Masters CC TBC ColeraineSun 8th AAI Juvenile Dev CC Dunboyne AthloneMagherafeltSat 14th UAC/ANI Senior CC Championships Lurgan ParkSun 15th 11am Finn Valley Spring Series Race 1. 5k Finn Valley CentreWed 18th Ulster Schools Cross Country Mallusk, Belfast n Valley CentreSun 22nd 11am Finn Valley Spring Series Race 1. 5k Finn Valley CentreTullamoreSat/Sun 21/22nd AAI Senior Indoor Championships AIT AthloneMarch 2015Sun 1st AAI Senior & Junior Cross Country TBC TBCSun 1st AAI Juv Cross Country Relays TBC TBCFri/Sun 6th/8th European Indoor Chammpionships PragueSat 7th Irish Schools & Universities CC TBCSat 14th International Cross Country GreenmountSun 15th AAI Masters Indoor Championships AIT AthloneSun 15th 11am Finn Valley Spring Series Race 3. 5k Finn Valley CentreSat/Sun 21/22nd AAI Juvenile Indoor Championships AIT AthloneSun 22nd 11am Finn Valley Spring Series Race 4. 5/10k Finn Valley CentreSat 28th AAI Juvenile Indoor Relay Championships AIT AthloneApril 2015Sat 4th Ballyliffen Coastal 10 Miles. 2pm Ballyliffen,DonegalFri/Sat 10/11th IUAA T & F Championships Raheny, DublinSunday 12th AAI 10k Championships/Great Run Phoenix ParkNavan. MeathSunday 19th AAI Road Relays Raheny, DublinSat 25th AAI Congress TBCMAY 2015Sunday 3rd North West 10K Road Race, 2pm LetterkennyTue/Wed 5/6th Finn Valley Primary Schools. 2 Days Finn Valley CentreWednesday 6th Ulster Schools ‘C’ District T & F Antrim ForumFri/Sat 15/16th Ulster Schools Finals Antrim ForumSunday 17th AAI Games & Senior Relays SantrySat/Sun 23rd/24th AAI CE, Sen, Youth, Jun & Masters TBCSunday 24th AAI National League Round 1 VariousWednesday 20th Donegal Primary Schools Finn Valley CentreSaturday 30th All Ireland Schools Track & Field TullamoreSaturday 30th Ulster Children’s Games Competition LiffordSunday 31st Ulster Under 12 & 13 Championships Finn Valley CentreJUNE 2015Monday 2nd Women’s Mini Marathon DublinSaturday 6th UAC/ANI Senior T & F Championships Mary Peters TrackSunday 7th Ulster Juv T&F Championships, U14&15 Mary Peters TrackSaturday 13th Ulster Juv T & F Championships, U16&17 Antrim ForumSat/Sun20/21st European Team CompetitionSaturday 20th Tailteann Schools Inter Provincial SantrySaturday 27th AAI Juv. Team Event Under 9, 10 & 11 TullamoreSunday 28th AAI Junior & Under 23 Championships TullamoreJULY 2015Sat/Sun 4th/5th AAI Juvenile Championships, Tullamore9th- 12th European Under 23 Championships TallinnSat/Sun 11th/12th AAI Juvenile Championships, Tullamore15th -19th World Youth Championships16th-19th European Junior Championships SwedenSaturday 18th Schools International ScotlandSunday 19th AAI National League Round 2 VariousSat/Sun 25/26th AAI Senior T & F Championships Santry26th -31st European Youth OlympicsAUGUST 2015Saturday 1st Celtic Games Track & Field ScotlandSunday 2nd AAI Masters T & F Championships TullamoreSunday 9th AAI National League Final Tullamore22nd – 30th IAAF T & F Championships Beijing, ChinaSat/Sun 23/24th Community Games, National Finals AthloneATHLETICS NEWS: FINN VALLEY FIXTURE LIST FOR 2014-2015 SEASON RELEASED was last modified: October 2nd, 2014 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:2014-2015athleticsfinn valleyfixturesNoticesSportlast_img read more

SA paddlers take on world’s longest canoe race

first_img “Sleep deprivation was the biggest one,” he said of the challenges he faced in 2007. “Obviously you have to be very fit. You start hallucinating, there is tendonitis in your wrists, sore bums from sitting down the whole time. “The river is quite dangerous,” he added. “You can’t go too close to the bank. Branches and massive trees fall out, so they are 30 metres into the river and you can’t see the branches and the river is flowing really fast, and you get hooked up in those. The water temperature is four or five degrees.”A bigger boat Due to the nature of the race, it is entirely possible that, apart from the start, they might not see any of their fellow competitors at all along the route. The vast distance and the tough requirements of the test that lies in weight means the Dung Beetles have to use a bigger boat than usual. “It’s a sea kayak,” Paul explained , “bigger than our kayaks because you’ve got a long list of mandatory things you have to take, like tents, sleeping bags, two stoves, three weeks of food, bear spray, flares. It has two hatches, so you are taking a lot of kit. “The boat will weight from 80 to 100 kilograms by the time we are packed up and ready to start. It’s an expedition.”Spot devices The duo will also carry two Spot devices with them, in case one of the tracking gadgets breaks down. The devices allow them to be tracked by satellite. Every day, they must stop paddling by 23:00, when it gets dark, and within 15 minutes they must press their device. The competitors are allowed to start paddling the next morning at 05:00, when it becomes light again. They must press the Spot device every six hours. In case of an emergency, the Spot devices contain a rescue mechanism, which would alert the Coast Guard on the United States side of the border and the Royal Canadian Mounted Police in Canada.Goal Paul and Boshoff have spent six months preparing for the Yukon 1 000, putting in training sessions of up to 100 kilometres a day. They’re planning to finish the distance in eight days, although seven days would be something they would be very pleased with, said Paul. The race record is six-and-a-half days. Keeping up their energy will be vital to achieving their goals and finishing the race, he added. Food “We both trained by going to a dietician. Our intake is all based on calories and what you are burning up every day, so we have balanced that out,” Paul said. “You can’t replace the calories as fast as you are burning them. We eat every half- hour, or at least every hour. A lot of that comes from energy drinks, probably 75 percent. You have to drink about half-a-litre every hour. You have to drink at least eight litres every day. That’s what we plan to do.” Paul’s and Boshoff’s progress can be tracked on their blog – The South African Dung Beetles Blog 17 July 2014 Only 12 teams have been brave enough to enter this year’s edition of the longest canoe race in the world, the Yukon 1 000 – meaning 1 000 miles (1 600 kilometres) – and they include the “South African Dung Beetles”, Duncan Paul and Donovan Boshoff of the Natal Canoe Club. The event starts in Whitehorse, the capital of the Yukon, in Alaska, and concludes at the Alaska Pipeline/Dalton Highway after seven to 12 days of paddling for 18 hours a day. Clearly, it is not for the faint of heart.Unsupported As an unsupported race, the contestants have to look out for their own wellbeing and that means carrying three weeks of food supplies. “You have to take three weeks of food with you because if you have bad weather conditions or someone gets injured there is no way you can be helped out there,” Paul said at a send-off function in Pietermaritzburg on Tuesday. On Wednesday, he and Boshoff jetted off on their way to Canada for the start of the Yukon 1 000, which takes place from Monday, 21 July. Paul previously took part in the Yukon River Quest in 2007, completing the mammoth 740 kilometre journey with fellow Natal Canoe Club member Colin Burden in 50 hours, while taking only one seven-hour and one three-hour break along the way.Useful knowledge Thanks to that previous experience, Paul explained, he learned some useful things, like the kinds of trials he and Boshoff can expect to face in the even longer Yukon 1 000. last_img read more

Bernard Colebrook Sentenced to 5 years imprisonment

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, TCI, February 7, 2017 -In the Supreme Court today (Tuesday 7th February 2017), 27-year-old Bernard Colebrooke of Five Cays Providenciales, pleaded guilty to Keeping Firearm and Keeping Ammunition.  The charges were laid as a result of an Authority to Search warrant that was executed at the home of Colebrook on Wednesday 19th October 2016 in Five Cays where Police found one (1) Silver and Black P-380 Caliber Firearm serial #AP388890, one (1) magazine containing three (3) rounds of 380 ammunitions under a mattress.  He was arrested and later charged with the offences mentioned and was sentenced to 5 years imprisonment for both charges.  The sentence will run concurrently.Press Release: RTCIPF#MagneticMediaNews #BernardColebrook Related Items:#BernardColebrook, #magneticmedianewslast_img read more

FACT CHECK PM Modi beats Trump Xi Putin becomes worlds most powerful

first_imgIndian Prime Minister, Narendra Modi.TwitterBeating Russian President Vladimir Putin, Chinese President Xi Jinping and US President Donald Trump, Prime Minister Narendra Modi emerges as the ‘World’s Most Powerful Person 2019’ in the reader’s poll conducted by UK-based British Herald magazine.While PM Modi won with 30.9 percent votes, he was followed by Vladimir Putin (29.9 percent), Donald Trump (21.9 percent), and Xi Jinping with 18.1 percent votes.The website described him as a key figure in the Asian region who has played an active role in implementing his “act east policies”. It also complimented the global recognition PM Modi received regarding efforts towards climate change as it affects millions of rural Indians.Apart from welfare initiatives like Ayushman Bharat (National Health Protection Scheme), Prime Minister Ujjwala Yojna, Swatch Bharat (Clean India), his aggressive stances regarding national security as demonstrated during the Balakot airstrikes, were cited as elements that guaranteed him support in the 2019 Lok Sabha elections. However, criticism such as the high unemployment rate, rising Non-Performing Assets (NPAs), high inflation rates as well as rates of fuel despite promises made in 2014 was also cited as ‘backlash’. Other major policies such as the demonetisation, revamping of goods and services tax (GST) were also stated as a major threat to the Indian economy.Despite the criticism, the website stated that it was because “the people of India have accepted his style of governance and politics” that the Modi achieved a landslide victory in the 2019 Lok Sabha elections. PM Narendra Modi on the British Herald magazine’s July 2019 cover.British Herald websiteNarendra Modi will be featured on the front cover page of the British Herald magazine which will be released on July 2019. The magazine had featured New Zealand Prime Minister Jacinda Ardern in its May-June issue and Russian President Vladimir Putin in its March-April issue.But what is the British Herald?A recent investigation by Alt News revealed that while its official wesite, www.britishherald.com mention ‘via Reuters’ under its logo banner, it is owned by an Indian, Ansif Ashraf.Although the company is registered in the UK, Alt News reported that Ashraf is an Indian businessman from Kerala who is the editor-in-chief of the Cochin Herald and owner of British Herald with 85 percent shares. Ansif Ashraf’s Wikipedia page describes him as an Indian businessman from Kerala who is the editor-in-chief of the Cochin Herald and owns British Herald.last_img read more

Tk 263m Magura projects riddled with corruption

first_img-Corruptions have been alleged in over 1,000 government projects worth Tk 263.5 million in Magura.Among the projects under Test Relief (TR), and Taka for Work (TW) for the rural infrastructure maintenance and renovation programme, over 100 projects do not even exist. Some 35 have been listed twice and hardly any work has been done on most of the others, according to a Prothom Alo investigation.The month-long investigation was conducted on some 35 development projects in the district.According to the Magura district relief and rehabilitation office, the Ministry of Disaster Management and Relief allocated Tk 263.5 million for 1,132 projects in the 2016-2017 fiscal. As per the rules, the projects were supposed to be completed by 30 June this year.Of the allocated funds, Tk 72 million was drawn for 969 projects under TR (special) and Tk 195 million for 163 projects under TW (special).Deputy commissioner Mohammad Atiqur Rahman told Prothom Alo they are looking into the allegations of irregularities in these projects.Visiting Project SitesSome 30 tonnes of rice were allocated for reconstructing a road in Bishnupur village. But, local union parishad (UP) member Zahidul Islam said, “As far I know, no work of road construction has been done here in past one to two years.”Tk 12,98,397 and 35 tonnes of rice were allocated for constructing a Thoipara road in Dhaneshwargati UP. District Awami League leader Sarwar Mallick and also resident of the UP said that there exists no road by this name in the area. The funds of the project might have been embezzled, he added.As many as 200 tonnes of rice were allocated for six projects of dredging canals and ponds in Sreepur upazila. But, no such work was done.Likewise, 120 tonnes of rice were allocated in three projects for dredging another canal in Shalikha’s Dhaneshwar UP. But, local Narayan Chandra Shikder said, “I cannot remember any canal dredging work here in five to seven years.”UP member Ashraful Islam and also president of the three projects said, “The canal was not dredged. Despite being the project head, I know nothing about the projects.”District relief and rehabilitation officer Mohammad Zakaria said, “The project implementation officials submit reports of completing the project by the month of June and draw money.”“The DC directed Upazila Nirbahi Officers last August to investigate irregularities on the projects and they found proof of irregularities,” he added.According to the district relief and rehabilitation office, the ministry allocated the funds following demand order (DO) of three members of parliament – Biren Sikder, ATM Abdul Wahab, and Kamrul Laila.MP ATM Abdul Wahab of Magura-1 constituency said, “I distributed the projects to local AL leaders. The UNOs and PIOs are supposed to take care of the projects whether they are done or not. If this does not happen, it’s their [UNOs and PIOs] responsibility.”MP Biren Sikder of Magura-2 constituency, also state minister for youth and sports said that he did not issue any DO under TR and TW projects.“I don’t even know there were these allocations,” he said.MP Kamrul Laila of reserved women seats in parliament said, “I had a meagre allocation. My DOs were for renovation of mosques and temples. I submitted the list of allocations to the DC.”The inquiry report submitted by the UNOs to the DC office states that most of the projects have been completed and a few are ongoing.The UNO of Mohammedpur told Prothom Alo, “My investigations reveal that there has been no work on any of the projects here and I submitted report to the deputy commissioner about this. The allocations for the projects will have to be returned. No money will be given to anyone if work isn’t done.”Sadar upazila UNO Ashafur Rahman said, “Most of the projects don’t even exist. And no work has been done on the projects that are in place. So the allocations haven’t been released.”Other UNOs came up with similar accounts of non-existent and non-implemented projects.*The article originally published in Prothom Alo print edition has been rewritten in English by Imam Hossainlast_img read more

Mass funeral held for Myanmar plane crash victims

first_imgHeartbroken relatives gathered Friday for the funeral rites of the first victims of a military plane crash off Myanmar’s southern coast, as search teams battled heavy rains and churning waves to find scores more people presumed lost at sea.Most of the 31 dead retrieved from the Andaman Sea so far have been women and children after a fraught search by navy ships, planes and helicopters hampered by sweeping rains.A total of 122 people were on board the Chinese-made Shaanxi Y8 military aircraft when it crashed on Wednesday during a routine flight from the southern city of Myeik to Myanmar’s commercial hub of Yangon.Hundreds gathered in a cemetery outside Dawei town on Friday afternoon to bid goodbye to loved ones whose bodies had been pulled from the water the previous day on San Hlan beach, a two hour drive away.Chanting from Buddhist monks filled a hall used for the ceremonies as 10 flimsy wooden coffins were laid out.One woman fainted and had to be carried out and many others broke down wailing as the service went on.Mourners then moved outside and watched as black smoke from the cremated coffins poured out of nearby towers, drifting across the sky.“My husband identified my nephew’s body. I’m so sorry,” said a tearful Khine Zar Win, who lost her youngest brother, his wife and two-year-old nephew in the plane crash.Another mourner, Aye Aye, said five members of her friend’s family were killed in the crash.“I couldn’t sleep when I heard about them,” she said. “We lived together like a family for 15 years in the military before my husband retired.”“I have no words,” added one woman, whose daughter and grandson were on the plane. “We are so sad.”More than half of the passengers on the aircraft were from military families, including 15 children, according to the army. The rest were soldiers and flight crew.The military said on Friday it had identified 16 of the dead so far.There has been no official explanation for the cause of the crash, one of several deadly incidents involving Myanmar military aircraft in recent years.Monsoon season brings heavy rains and strong winds every year, but there were no reports of major storms along the plane’s flight route when it went missing.Storms hamper search -Fishing boats helped navy vessels and military aircraft as they continued to hunt for the wreckage on Friday, despite tides reaching over 2.5 metres, the military said in a statement.But by the afternoon officials had not announced the retrieval of any more bodies.“We are having difficulty because of the strong winds and tide,” Major Aung Win, police chief of Launglon township, told AFP.The military said the aircraft was flying above 18,000 feet (5,486 metres) when it lost contact with air traffic control at 1:35 pm (07:05 GMT) on Wednesday.The military has described the captain as a “seasoned” pilot with more than 3,000 hours flying experience.Gerry Soejatman, an independent aviation expert based in Jakarta, said initial information indicated something went wrong “not long after or just before reaching cruising altitude”.Myanmar’s former junta bought several Y8s-four-engine turboprop jets used for medium range flights-during their 50 years of isolated rule, when they were squeezed by Western sanctions.The plane’s maker, China National Aero-Technology Import & Export Corporation, has pledged to assist with investigations into the crash.Several pieces of debris that appeared to be from the wreckage, including tyres, life jackets and some luggage, have also been salvaged.last_img read more

Google expands its machine learning hardware portfolio with Cloud TPU Pods alpha

first_imgToday, Google cloud announced the alpha availability of ‘Cloud TPU Pods’  that are tightly-coupled supercomputers built with hundreds of Google’s custom Tensor Processing Unit (TPU) chips and dozens of host machines, linked via an ultrafast custom interconnect. Google states that these pods make it easier, faster, and more cost-effective to develop and deploy cutting-edge machine learning workloads on Google Cloud. Developers can iterate over the training data in minutes and train huge production models in hours or days instead of weeks. The Tensor Processing Unit (TPU), is an ASIC that powers several of Google’s major products, including Translate, Photos, Search, Assistant, and Gmail. It provides up to 11.5 petaflops of performance in a single pod. Features of Cloud TPU Pods #1 Proven Reference Models Customers can take advantage of  Google-qualified reference models that are optimized for performance, accuracy, and quality for many real-world use cases. These include object detection, language modeling, sentiment analysis, translation, image classification, and more. #2 Connect Cloud TPUs to Custom Machine Types Users can connect to Cloud TPUs from custom VM types. This will them optimally balance processor speeds, memory, and high-performance storage resources for their individual workloads. #3 Preemptible Cloud TPU Preemptible Cloud TPUs are 70% cheaper than on-demand instances. Long training runs with checkpointing or batch prediction on large datasets can now be done at an optimal rate using Cloud TPU’s. #4 Integrated with GCP Cloud TPUs and Google Cloud’s Data and Analytics services are fully integrated with other GCP offerings. This provides developers unified access across the entire service line. Developers can run machine learning workloads on Cloud TPUs and benefit from Google Cloud Platform’s storage, networking, and data analytics technologies. #5 Additional features Cloud TPUs perform really well at synchronous training. The Cloud TPU software stack transparently distributes ML models across multiple TPU devices in a Cloud TPU Pod to help customers achieve scalability. All Cloud TPUs are integrated with Google Cloud’s high-speed storage systems, ensuring that data input pipelines can keep up with the TPUs. Users do not have to manage parameter servers, deal with complicated custom networking configurations, or set up exotic storage systems to achieve unparalleled training performance in the cloud. Performance and Cost benchmarking of Cloud TPU Google compared the Cloud TPU Pods and Google Cloud VMs with NVIDIA Tesla V100 GPUs attached- using one of the MLPerf models called TensorFlow 1.12 implementations of ResNet-50 v1.5 (GPU version, TPU version). They trained ResNet-50 on the ImageNet image classification dataset. The results of the test show that Cloud TPU Pods deliver near-linear speedups for large-scale training task; the largest Cloud TPU Pod configuration tested (256 chips) delivers a 200X speedup over an individual V100 GPU. Check out their methodology page for further details on this test. Training ResNet-50 on a full Cloud TPU v2 Pod costs almost 40% less than training the same model to the same accuracy on an n1-standard-64 Google Cloud VM with eight V100 GPUs attached. The full Cloud TPU Pod completes the training task 27 times faster. Head over to Google Cloud’s official page to know more about Cloud TPU Pods. Alternatively, check out Cloud TPU’s documentation for more insights on the same. Read Next Intel Optane DC Persistent Memory available first on Google CloudGoogle Cloud Storage Security gets an upgrade with Bucket Lock, Cloud KMS keys and moreOracle’s Thomas Kurian to replace Diane Greene as Google Cloud CEO; is this Google’s big enterprise Cloud market move?last_img read more

IAG confirms plans to acquire struggling Niki

Share Tags: British Airways, Iberia, Low-Cost Carriers TORONTO — International Airlines Group (IAG), parent company of British Airways and Iberia, is moving forward with plans to acquire the assets of struggling low-cost carrier Niki, which opened insolvency procedures in Austria last week.IAG announced plans last month for a subsidiary of Vueling to buy the Austrian airline’s assets for 20 million euros, plus invest another 16.5 million euros into the company. Niki was part of the airberlin group, which entered liquidation last year.Germany’s Lufthansa was also in the running to purchase Niki, but withdrew its bid in December.The IAG transaction is pending approval under EU competition laws. If passed, it will include up to 15 A320 aircraft and include slots at airports like Vienna, Zurich and Munich. IAG says the new company will employ approximately 740 former Niki staff. Posted by Tuesday, January 16, 2018 << Previous PostNext Post >> Travelweek Group IAG confirms plans to acquire struggling Niki read more