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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:Dry, bright start this morning with best of sunshine in the west. Thickening cloud over Down and Antrim this morning with a few showers, extending westwards this afternoon. Lighter winds. Maximum temperature 16 °C.Tonight:Rather cloudy and mainly dry at first, then showery outbreaks of rain extending westwards to most places during the night, turning heavier towards morning. Light winds. Minimum temperature 8 °C.
