EU antitrust regulators gave a conditional greenlight Friday to a bid by International Consolidated Airlines Group (IAG), owner of British Airways, to buy rival bmi from Lufthansa. The decision is conditional on IAG releasing 14 daily pairs of slots at London Heathrow and carrying connecting passengers to feed long-haul flights of competing airlines out of the airport, the European Commission said.
British Airways' competitor Virgin had pleaded with regulators to block the deal to sell bmi, or British Midland International, because it claimed it distorted competition in the aviation market. "The Commission could clear this transaction in the first phase given the commitments package offered by IAG which addresses the competition concerns we identified," said EU Competition Commissioner Joaquin Almunia. The sale, which will be concluded in the first quarter of next year, was fixed at 175.2 million pounds (210 million euros, $280 million).
Comments
Comments are closed for this article.