Lauda quits airline he founded

Report by John Lavabre

LAUDA AIR founder and chairman Niki Lauda has resigned from the airline’s board.

Lauda handed in his resignation following the publication of an audit by accountancy firm KPMG. The audit was critical of the airline’s system for handling foreign currency transactions.

This system was not Lauda’s responsibility and he was not criticised in the audit.

Lauda, who thanked all his staff, commented: “I have always maintained that I would resign my function if so much as a semblance of a reason should arise to criticise me as an individual.”

A spokeswoman for the airline said it was too early to say who would replace Lauda.