IAG Agrees bmi Takeover Deal

Posted 04/11/2011

Lufthansa has today (November 4) confirmed that it has reached agreement in principle with International Consolidated Airlines Group (IAG), the parent of British Airways and British Airways, to sell bmi British Midland International.  The sale and closing of the deal remain subject to conditions including a binding purchase agreement, further due diligence and regulatory clearances.

It is envisaged that the purchase agreement will be signed in the coming weeks and the aim is for the transaction to be completed in the first quarter of 2012, according to the German flag carrier. 

What will this mean for bmi's network and particularly its operations from London Heathrow? Will IAG maintain its activities or will it use these slots for more lucrative long-haul routes?  Read our thoughts and analysis next week.

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