News Lufthansa announces BMI takeover

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Lufthansa announces BMI takeover

Lufthansa announces BMI takeover

UK airline BMI is being taken over by German flagship carrier Lufthansa, it has been reported.

The German carrier was already BMI’s second-largest shareholder, with the airline announcing on Wednesday that it is buying 50 percent of BMI chairman Michael Bishop’s company.

Lufthansa will now have greater control over the number of flights taking off from London Heathrow than any other airline apart from British Airways.

Prior to the takeover, BMI was Heathrow’s second-biggest airline, flying to 51 destinations and handling 10.6 million passengers a year.

Speaking to the Independent, Douglas McNeill, an analyst at Blue Oar Securities, said:

"Because the two airlines have worked together for some time there are unlikely to be sudden wholesale changes, but there may be some re-shaping of the network going forward in terms of frequencies or destinations served."

Lufthansa announced on the same day of the takeover that its third-quarter net profit fell by 75 percent, mainly due to its increased fuel bill.

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