Lufthansa, International Airlines Group close British Midland deal

Posted: April 20, 2012 in Aviation & Airports (General News), Heathrow
Tags: , , , , ,

BERLIN: German airline Lufthansa AG says it has completed a 172.5 million pound ($276 million) deal selling its loss-making British Midland Ltd. subsidiary to the parent of rival British Airways. 

Lufthansa said today the sale to BA parent IAG took place after the close of business on yesterday

Lufthansa said today the sale to BA parent IAG took place after the close of business on yesterday

Lufthansa said in a statement on Friday the sale to BA parent International Airlines Group took place after the close of business on Thursday.Lufthansa says it expects to lose money on the deal, but that the costs will amortize within a year and that the deal will ultimately strengthen its financial position.

It says “price adjustments have been agreed as part of the transaction structure” and that the specific net purchase price will be determined at the end of the second quarter.

Lufthansa and IAG announced an agreement in principle on the sale in early November…..

Read the original story at The Economic times…. 


The Economic Times
20 APR, 2012


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