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 04.25.16

Airborne 04.26.16

AEA2016 LIVE!!! 0830-1230ET

AEA2016 LIVE!!! 1400-1700ET

AEA2016 LIVE!!! 1100-1400ET

Airborne Hi-Def On YouTube

Airborne 04.25.16

Airborne 04.26.16

AEA2016 LIVE!!! 0830-1230ET

AEA2016 LIVE!!! 1400-1700ET

AEA2016 LIVE!!! 1100-1400ET

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

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

True Blue Power and Mid-Continent Instruments and Avionics Power AEA2016!

True Blue Power Announces Series of High-Powered USB Charging Ports, Powers Current and Next-Generation Electronic Devices True Blue Power today announced the TA202 Series High Pow>[...]

L-3 Aviation Products Presents AEA2016 Special Event Coverage!!!

Innovative Avionics Powerhouse Showcases Latest Developments It's been a great year for L-3 Aviation Products. In less than six months, they've finetuned some ground-breaking produ>[...]

Aspen Avionics, True Innovators, Present AEA2016 Special Event Coverage!

AEA2016 Sponsor: Always-Innovative Aspen Avionics Based in Albuquerque, New Mexico, Aspen Avionics specializes in bringing the most advanced display and sensor technology from the >[...]

Avilution's Revolution: Designing Avionics' Next-Generation

Avilution Shows What 'Next-Gen' REALLY Looks Like! When ANN first saw the Avilution concept in real-life, we took a few moments to let the idea sink in... and when it did... wow. N>[...]

Airborne 04.26.16: Drone v Airplane-NOT!, eFusion Electric Plane, ANN@AEA-LIVE!!

Also: MU-2 AOA, AMA Responds To Senate FAA Reauthorization, ANN@AEA Live 04/27-0830ET, ANN@AEA Live 04/28-1400ET, ANN@AEA Live 04/29-1100ET A report of a drone possibly colliding w>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC