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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 showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
