VIENNA, Aug. 6 (Xinhua) -- Austrian three-time Formula 1 champion Niki Lauda is on the path to recovery after undergoing a life-saving lung transplant, local media reported on Monday.

Lauda had initially cut short a holiday in Ibiza after contracting the flu, returning to his native Vienna and checking himself in to the General Hospital (AKH) there.

Complications arose with a previously damaged lung, however, requiring a transplant. This operation subsequently took place last Thursday.

The 69-year-old was already conscious 24 hours after the operation, the AKH said, and had his breathing tubes removed as he was able to breathe independently.

His condition has continued to improve and is now "very satisfactory" with "all organs working well," according to the hospital.

Lauda will remain in the hospital until he makes a full recovery, it was further stated.

This is expected to last for several more weeks, following which his rehabilitation will continue.

He will also have to take medication for the rest of his life, so that his body does not reject the transplanted organ. He has already had two kidney transplants, meaning the practice will not be new for him.

Lauda is well-known for having been involved in a crash at the 1976 German Grand Prix, leaving him with severe burns and inhalation of toxic gases. But he recovered to continue his successful career after that.