Fri, 04 Nov 2011 | BUSINESS SALE
British Airways' owner International Airlines Group has agreed to buy the loss-making airline Bmi, currently owned by Lufthansa.
The purchase agreement for the deal, worth about £300 million, is due to be signed in the next few weeks, and the business to change hands in early 2012.
The deal would see BA increase its share of Heathrow take-off and landing slots from around 45 per cent to over 53 per cent. The deal is still subject to regulatory clearance.
Virgin Atlantic has raised concerns about the deal and is expected to request a full competition investigation. The firm said; “British Airways’s hold over Heathrow is already too dominant and we are very concerned – as the competition authorities should be – that BA’s purchase of BMI would be disastrous for consumer choice and competition.”
Despite experiencing what it called “some demand softness” last month amid the eurozone crisis, IAG’s latest results show a fivefold increase in pre-tax profits in the nine months to 30 September, and a 12 per cent increase in turnover to €12.3bn. Rising fuel costs have hit operating profits for the last quarter, which fell from €528m to €363m.
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
06
|
Jun
|
FDM Group sale process to begin in autumn | BUSINESS SALE
FDM Group, an IT services provider with many household name ...
16
|
Apr
|
IAG purchase of BMI agreed, Virgin Atlantic to appeal | BUSINESS SALE
The European Commission has allowed IAG, British Airways&rsq...
22
|
Dec
|
IAG agrees binding deal with Lufthansa | DIVISION SALE
IAG, the owner of British Airways, has agreed a binding deal...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.