lufthansa to sell british subsidiary to ba owner
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Lufthansa to sell British subsidiary to BA owner

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Arab Today, arab today Lufthansa to sell British subsidiary to BA owner

Berlin - AFP
Germany's Lufthansa announced the sale of its British Midland Ltd. subsidiary to International Consolidated Airlines Group, which owns the rival carriers British Airways and Iberia. The sale, which will be concluded in the first quarter of next year, was fixed at 175.2 million pounds (around 207 million euros, $270 million). Lufthansa on Thursday said it was pleased to be rid of a loss-making subsidiary. With the acquisition, IAG will have more than half the landing slots at Heathrow, Britain's busiest airport. The German carrier had bought BMI, which has some 3,500 employees, in 2009..  
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