British Airways owner IAG has agreed a binding deal to buy BMI from Lufthansa for £172.5m.
The German airline signed an early deal with IAG in November but had also been in discussions with Virgin.Virgin had argued that a deal with IAG would be uncompetitive because BA already had a "dominant" position regarding landing slots at Heathrow.
BA will net 56 more slots at Heathrow in the deal. The BMI takeover is still subject to competition clearance.
http://www.stockmarketwire.com/article/4281127/BA-and-Iberia-owner-Intl-Airline-Group-acquires-bmi.html
David Gambles
