04/11/11 BA Parent Company to Buy BMI From Lufthansa
It has been announced today that the International Airlines Group has agreed in principal to the purchase of of BMI from Lufthansa. IAG was set up as the parent company for British Airways and Iberia when they merged recently.
It has been widely reported that BMI have been losing money for their owners, Lufthansa, and that a sale could be planned, and that the airline would be of interest to BA and IAG due to the number of take off and landing slots they hold at London Heathrow airport.
According to the IAG website, the deal is expected to be finalised in the next few weeks with the transaction taking place in the first quarter of 2012.