No changes to Lauda's F1 schedule following airline purchase

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Niki Lauda just bought back the 'Niki' airline he founded in 2003, but the investment won't affect his duties as Mercedes non-executive chairman in Formula 1.

While his eponymous airline will require proper attention to reestablish its business, the three-time world champion will still be in the Mercedes garage at every race.

"Why should anything change?" said Lauda.

"I will fulfill my role within Mercedes AMG as before. I will attend every GP and will be in Brackley as often as it is required.

Lauda pips IAG to the finish line to win back Niki

The Austrian will largely dedicate day-to-day management of the airline to senior executives, insisting his responsibilities won't include the role of operational CEO.

The company will be renamed LaudaMotion and will lift its wheels off the ground by March with a fleet of 15 Airbus planes.

"It was always clear that Niki will stay fully committed to his role in our team. He is already eager for the new season to start," said Mercedes AMG F1 boss Toto Wolff.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.