BA parent pledges to ‘grab’ BMI ahead of Virgin
21.12.11
IAG, the parent company of of British Airways and Spain’s Iberia, has said it is closing in on the purchase of BMI from Lufthansa, Bloomberg reports. The news comes after Virgin Atlantic Airways announced last week that it has lodged a counter bid for BMI.
While the competition from Virgin may extend the sale process, IAG aims to complete the transaction ‘sooner rather than later,’ its Chairman Antonio Vazquez said in an interview in Madrid. He said: ‘I think we’ll be able to grab it for sure. The negotiations are going well and I’m very optimistic we will be able to complete the deal.’
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