IAG formally completes bmi purchase

20th Apr 2012 07:18

International Airlines Group (IAG) has officially completed the purchase of bmi airlines from Lufthansa. The airline will be integrated into British Airways, with details on how this will be achieved to be announced at the time of IAG's first quarter results announcement, scheduled for May.Consultation has begun already with bmi mainline staff and their trade unions, IAG said.Ownership of bmibaby and bmi regional, neither of which are part of IAG's long term plans, has not yet changed hands. Under the terms of the purchase agreement with Lufthansa, IAG will also acquire these businesses and receive a significant price reduction. As previously indicated, IAG will pursue options to exit these businesses. The costs associated with exiting these businesses, including the impact of operating them in the short term, are expected to be offset by the price reduction, IAG said. JH