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Monday, 02 April 2012 08:06

IAG cleared by EU to buy bmi

Lufthansa finally rids itself of loss-making airline

Lufthansa has finally rid itself of the heavily loss-making British airline bmi, the sale of which the European Union has approved to IAG, parent company of British Airways and Iberia. EU regulatory approval came once IAG agreed to give up 14 daily slots at London’s Heathrow airport. The €207 million deal now gives IAG and bmi a combined share of 53% of the slots at Europe’s busiest airport, something that rival bidder Virgin argues will distort competition.
IAG has also promised to carry connecting passengers to feed its rivals' long-haul flights.
Reuters

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