Lufthansa Moves Forward With Sale Of British Midland To IAG | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 01.16.17

Airborne 01.17.17

Airborne 01.11.17

Airborne 01.12.17

Airborne 01.13.17

Airborne Hi-Def On YouTube

Airborne 01.16.17

Airborne 01.17.17

Airborne 01.11.17

Airborne 01.12.17

Airborne 01.13.17

Fri, Dec 23, 2011

Lufthansa Moves Forward With Sale Of British Midland To IAG

Airline Says It Will Benefit From A Stronger Financial Position After The Sale

Deutsche Lufthansa AG (Lufthansa) and International Airlines Group (IAG) have signed a binding agreement for the sale of British Midland Limited (bmi) to IAG in a deal worth about $270 million cash. Both parties project the transaction will close by the end of the first quarter 2012.

“bmi’s employees and management team have shown great motivation and unfailing commitment in dealing with the financial challenges of the past years," said Christoph Franz, CEO and Chairman of the Executive Board of Deutsche Lufthansa AG. "For this I owe them my thanks and appreciation. It was therefore especially important for us to find the solution that best provides the company and its employees with sustainable prospects for the future. This has been achieved through the sale of bmi to IAG. And as part of Lufthansa’s strategic development the sale means that our customers, shareholders and employees will benefit from a sharpened corporate profile and a stronger financial position of the Group. Both of these are necessary elements to enable sustainable, profitable growth.”

As part of the agreement, a British holding company of Lufthansa, is to take on bmi’s defined benefit pension scheme. Lufthansa said the sale will allow it to align its airline portfolio to a more strategic fit with benefits form a stronger earnings position. The deal is subject to regulatory approval.

FMI: www.lufthansa.com, www.iairgroup.com

Advertisement

More News

Airborne 01.13.17: G650ER Record Streak, False Drone Hit, Piper Archer Sale

Also: Parrot Layoffs, CES/AMA Expo/KSMO, 737 SAIB, Piper PA-31T, John Pope, Washington State, JetBlue Disturbance Pending sanctioning from the recognizing organizations, it looks l>[...]

Aero-News: Quote of the Day (01.16.17)

"But, all is not right in NIMBYville... the internal infighting among the foes of the airport has become quite public and quite vicious. Anti-airport NIMBYs are accusing the city g>[...]

Disorganized/Combative Santa Monica Anti-Airport Foes Threaten Av-Businesses

February 4th 'Protest' Promises Disruptions Of Law-Abiding Aero-Businesses The foes of aviation surrounding Santa Monica are making threats to further disrupt aviation business at >[...]

Klyde Morris (01.16.17)

Klyde Jumps On The Medical Reform Bandwagon... and Misses FMI: www.klydemorris.com>[...]

Duncan Aviation Publishes Updated ADS-B Straight Talk Book

Updates Information Originally Published In 2015 Duncan Aviation wants to ensure that our customers, who share our passion for flying, are well-informed when it comes to the FAA&rs>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC