News: Lufthansa takes over Bmi
Flights > News > # 1942 (30/10/2008)
German airline Lufthansa has bought a controlling stake in UK carrier Bmi.
Lufthansa already had a 30 per cent stake in Bmi, formerly British Midland, and the firm is understood to be buying a further 50 per cent stake for around £318 million.
The stake belongs to Bmi chairman Sir Michael Bishop, who built the airline to a position where it has become one of Europe's leading carriers.
The remaining 20 per cent is owned by Scandinavian Airlines.
Bmi also includes the budget airline Bmibaby as well as a UK regional subsidiary.
The deal, which is expected to go through within the next three months, will make Lufthansa the second-biggest carrier behind British Airways (BA) at London Heathrow, enabling the German giant to battle BA on the highly lucrative transatlantic routes to the United States.
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