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04/11/2011
Lufthansa To Sell BMI
International Airlines Group (IAG) and Lufthansa have today reached an agreement in principle for the sale of British Midland Ltd (BMI) to IAG.
No details were given, however the deal does require regulatory approval and is expected to be signed in the coming weeks.
BMI has it's main hub at London's Heathrow airport, as does British Airways. This is Europe's busiest airport and operates flights to Europe, the Middle East and Africa.
Lufthansa'a shares rocketed rising5.5 per cent to €10.39 while IAG shares were down 2.3 per cent in early trading in London at $2.62.
BMI has reported difficult year in 2011. Lufthansa said last month that, because of its strong presence in the Middle East and North Africa, the British airline's business suffered particularly badly from political turmoil in the region.
(CD)
No details were given, however the deal does require regulatory approval and is expected to be signed in the coming weeks.
BMI has it's main hub at London's Heathrow airport, as does British Airways. This is Europe's busiest airport and operates flights to Europe, the Middle East and Africa.
Lufthansa'a shares rocketed rising5.5 per cent to €10.39 while IAG shares were down 2.3 per cent in early trading in London at $2.62.
BMI has reported difficult year in 2011. Lufthansa said last month that, because of its strong presence in the Middle East and North Africa, the British airline's business suffered particularly badly from political turmoil in the region.
(CD)
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
