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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:A largely cloudy day with occasional rain. Turning drier and brighter for a time in the afternoon and feeling very mild. Light southerly winds becoming strong with gales later along the County Down coast. Maximum temperature 13 °C.Tonight:Cloudy with outbreaks of rain, these heavy at times. Strong southerly winds, with gales in the evening across eastern counties, becoming westerly later. Minimum temperature 8 °C.
