BMI being taken over by Lufthansa

[White Cap]

Source: UK News

BMI being taken over by Lufthansa

BMI is Heathrow's second-biggest airline

Lufthansa buying the 50% of firm owned by BMI chairman Sir Michael Bishop, who forced the purchase under a long-standing agreement.

The German carrier was already BMI's second-largest shareholder, with a stake of 30% minus one share.

The deal will give Lufthansa control of more flights from London Heathrow airport than any other airline except British Airways.

The remaining 20% of BMI is currently owned by Sweden-based Scandinavian Airlines (SAS).

Lufthansa said it intended to complete the deal by 16 January - but would not confirm what it was paying. Reports suggest it is about £318m.

[Weseler]

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