NIKI LAUDA, Austria”s second Formula 1 world champion (after Jochen Rindt), and the founder of Lauda Air, is reported to be paying E4m to buy a majority stake in the Austrian charter operations of Aero Lloyd, which filed for bankruptcy in October (see ABTN 20 October). The as yet unnamed airline will fly from Vienna to Egypt, Madeira and the Canaries. The original Lauda Air was launched in 1980, with the founder resigning in 2000, allowing majority owner Austrian Airlines to take full control and reposition it as its charter carrier. Lauda still remains as nominal president of the airline and after starting Lauda Air qualified as a professional pilot. At a press conference in the Austrian capital he said that he intended to retrain for the Airbus A320.