Reigning Formula One champion Niki Lauda of...

Reigning Formula One champion Niki Lauda of Austria said he will retire from auto racing at the end of the season. Lauda said he needs to pay more attention to his airline, Lauda Air, which, he said, transports hundreds of people daily and is growing.

This year, Lauda has collected only five points, dropping out of eight races and winning none.

On Aug. 1, 1976, he was badly burned in a crash at Nurburgring in West Germany but came back to race again just 42 days later.

Lauda made the retirement announcement before the second qualifying session for today’s Austrian Grand Prix at Zeltweg, Austria. Alain Prost will start in the pole position.