A Travel and vacations forum. TravelBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » TravelBanter forum » Travelling Style » Air travel
Site Map Home Authors List Search Today's Posts Mark Forums Read Web Partners

BMI being taken over by Lufthansa



 
 
Thread Tools Display Modes
  #1  
Old October 29th, 2008, 01:26 PM posted to rec.travel.europe,rec.travel.air
Sue Veneer
external usenet poster
 
Posts: 32
Default BMI being taken over by Lufthansa

http://news.bbc.co.uk/2/hi/business/7697261.stm

BMI being taken over by Lufthansa

BMI is Heathrow's second-biggest airline

UK airline BMI is being taken over by Germany's Lufthansa.

Lufthansa, which already owns a 30% stake in BMI minus one share, is
buying the 50% of the company owned by BMI chairman Sir Michael
Bishop.

The deal will give Lufthansa control of more flights from London
Heathrow airport than any other airline except British Airways.

The remaining 20% of BMI is currently owned by Sweden-based
Scandinavian Airlines (SAS).

BMI flew 10.6 million passengers last year and operates 54 aircraft.
It controls 11% of landing and take-off slots at Heathrow.

Lufthansa said it intended to complete the deal by 16 January. It has
not said how much it is paying for the 50% stake.

The German airline signed an agreement with Sir Michael back in 1989
that if he ever wanted to sell his BMI stake, it would have first
refusal.

Sector under pressure

There had been growing speculation in recent months that Sir Michael
was keen to sell his share in the business.

Lufthansa tailfins
Lufthansa is Germany's largest airline

Last month, BMI declined to comment on reports that it had been
approached by Abu Dhabi carrier Etihad over a possible merger.

Like almost all airlines, BMI has seen its profits hit this year by
the big rises in the price of aviation fuel in the first half of the
year.

This has led to a number of carriers seeking closer ties with rivals,
such as British Airways' plans for a tie-up with American Airlines.

Other airlines have had to cease operations, including Zoom, XL and
Sterling.


LUFTHANSA
83.1 million passengers last year
Flies to 209 destinations
276 planes

Analysts said Lufthansa's relative financial strength, combined with
the current troubles in the airline industry, meant it had been able
to go on something of a bargain-hunting spending spree.

Earlier this year, Lufthansa had bought a 45% stake in Brussels
Airlines.


BMI
10.6 million passengers last year
Flies to 51 destinations
54 planes

The BMI announcement came as Lufthansa announced a 75% fall in net
profit for the July to September period, which it blamed on higher
fuel costs.

However, aviation fuel is now falling in price as it trails the recent
sharp declines in crude oil costs.

BMI's two main hubs are Heathrow and Manchester, but it also operates
from 13 other UK airports.
  #2  
Old October 29th, 2008, 08:18 PM posted to rec.travel.europe,rec.travel.air
Runge13[_2_]
external usenet poster
 
Posts: 495
Default Warning virus


"Sue Veneer" a écrit dans le message de
...
http://news.bbc.co.uk/2/hi/business/7697261.stm

BMI being taken over by Lufthansa

BMI is Heathrow's second-biggest airline

UK airline BMI is being taken over by Germany's Lufthansa.

Lufthansa, which already owns a 30% stake in BMI minus one share, is
buying the 50% of the company owned by BMI chairman Sir Michael
Bishop.

The deal will give Lufthansa control of more flights from London
Heathrow airport than any other airline except British Airways.

The remaining 20% of BMI is currently owned by Sweden-based
Scandinavian Airlines (SAS).

BMI flew 10.6 million passengers last year and operates 54 aircraft.
It controls 11% of landing and take-off slots at Heathrow.

Lufthansa said it intended to complete the deal by 16 January. It has
not said how much it is paying for the 50% stake.

The German airline signed an agreement with Sir Michael back in 1989
that if he ever wanted to sell his BMI stake, it would have first
refusal.

Sector under pressure

There had been growing speculation in recent months that Sir Michael
was keen to sell his share in the business.

Lufthansa tailfins
Lufthansa is Germany's largest airline

Last month, BMI declined to comment on reports that it had been
approached by Abu Dhabi carrier Etihad over a possible merger.

Like almost all airlines, BMI has seen its profits hit this year by
the big rises in the price of aviation fuel in the first half of the
year.

This has led to a number of carriers seeking closer ties with rivals,
such as British Airways' plans for a tie-up with American Airlines.

Other airlines have had to cease operations, including Zoom, XL and
Sterling.


LUFTHANSA
83.1 million passengers last year
Flies to 209 destinations
276 planes

Analysts said Lufthansa's relative financial strength, combined with
the current troubles in the airline industry, meant it had been able
to go on something of a bargain-hunting spending spree.

Earlier this year, Lufthansa had bought a 45% stake in Brussels
Airlines.


BMI
10.6 million passengers last year
Flies to 51 destinations
54 planes

The BMI announcement came as Lufthansa announced a 75% fall in net
profit for the July to September period, which it blamed on higher
fuel costs.

However, aviation fuel is now falling in price as it trails the recent
sharp declines in crude oil costs.

BMI's two main hubs are Heathrow and Manchester, but it also operates
from 13 other UK airports.


  #3  
Old October 29th, 2008, 10:48 PM posted to rec.travel.europe,rec.travel.air
Gregory Morrow[_83_]
external usenet poster
 
Posts: 4
Default Warning virus


"Fly by air..."

:-)

--
Best
Greg

" I find Greg Morrow lowbrow, witless, and obnoxious. For him to claim that
we are some
kind of comedy team turns my stomach."
- "cybercat" to me on rec.food.cooking

"Runge13" wrote in message
...

"Sue Veneer" a écrit dans le message de
...
http://news.bbc.co.uk/2/hi/business/7697261.stm

BMI being taken over by Lufthansa

BMI is Heathrow's second-biggest airline

UK airline BMI is being taken over by Germany's Lufthansa.

Lufthansa, which already owns a 30% stake in BMI minus one share, is
buying the 50% of the company owned by BMI chairman Sir Michael
Bishop.

The deal will give Lufthansa control of more flights from London
Heathrow airport than any other airline except British Airways.

The remaining 20% of BMI is currently owned by Sweden-based
Scandinavian Airlines (SAS).

BMI flew 10.6 million passengers last year and operates 54 aircraft.
It controls 11% of landing and take-off slots at Heathrow.

Lufthansa said it intended to complete the deal by 16 January. It has
not said how much it is paying for the 50% stake.

The German airline signed an agreement with Sir Michael back in 1989
that if he ever wanted to sell his BMI stake, it would have first
refusal.

Sector under pressure

There had been growing speculation in recent months that Sir Michael
was keen to sell his share in the business.

Lufthansa tailfins
Lufthansa is Germany's largest airline

Last month, BMI declined to comment on reports that it had been
approached by Abu Dhabi carrier Etihad over a possible merger.

Like almost all airlines, BMI has seen its profits hit this year by
the big rises in the price of aviation fuel in the first half of the
year.

This has led to a number of carriers seeking closer ties with rivals,
such as British Airways' plans for a tie-up with American Airlines.

Other airlines have had to cease operations, including Zoom, XL and
Sterling.


LUFTHANSA
83.1 million passengers last year
Flies to 209 destinations
276 planes

Analysts said Lufthansa's relative financial strength, combined with
the current troubles in the airline industry, meant it had been able
to go on something of a bargain-hunting spending spree.

Earlier this year, Lufthansa had bought a 45% stake in Brussels
Airlines.


BMI
10.6 million passengers last year
Flies to 51 destinations
54 planes

The BMI announcement came as Lufthansa announced a 75% fall in net
profit for the July to September period, which it blamed on higher
fuel costs.

However, aviation fuel is now falling in price as it trails the recent
sharp declines in crude oil costs.

BMI's two main hubs are Heathrow and Manchester, but it also operates
from 13 other UK airports.




 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Lufthansa sale Nov. 1 jbaloun Air travel 4 November 2nd, 2006 04:17 PM
Lufthansa sara Air travel 0 September 19th, 2006 08:21 AM
Lufthansa sara Europe 0 September 19th, 2006 02:54 AM
Lufthansa, anyone? elliot Air travel 2 April 19th, 2004 08:22 PM
Lufthansa, anyone? Robert Air travel 18 April 17th, 2004 02:02 PM


All times are GMT +1. The time now is 03:45 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 TravelBanter.
The comments are property of their posters.