IAG receives EC approval for BMI acquisition
The European Commission granted International Airlines Group (IAG) the authorisation needed to acquire British Midland Limited (BMI) from Lufthansa, adding that competition concerns were addressed by conditions that were part of the deal.
The European Commission granted International Airlines Group (IAG) the authorisation needed to acquire British Midland Limited (BMI) from Lufthansa, adding that competition concerns were addressed by conditions that were part of the deal.
In the coming months, IAG plans to integrate BMI with British Airways. Conditions on the approval included:
- Seven daily slot pairs will be used by Heathrow and Edinburgh and/or Aberdeen.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
- Five daily slot pairs will be used by Heathrow and the following destinations: Nice; Cairo; Riad; Moscow; Edinburgh; and/or Aberdeen.
- Two daily slot pairs at Heathrow will be leased to Transearo for services to Moscow.
- Other airlines may request seats in the British Airways and BMI short and medium-haul network for connecting passengers under market commercial conditions.
IBERIA PILOTS ON STRIKE
Iberia, the Spanish airline operated by IAG, has announced that domestic flights will be affected by a pilot strike that will start on Monday April 9th.
Iberia has allowed bookings to be more flexible in order to allow for exchanges or refunds for affected passengers. Also, a contingency plan has been put in place in order to provide alternatives to passengers.
Iberia will announce the list of flights available during the coming strikes.
By 09:09, IAG was trading up 1.62% and 0.6% in London and Madrid, respectively.
S.B.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Live: Will the Bank of England cut interest rates?
The outcome of the next Monetary Policy Committee meeting will be announced on 7 November. Stay up to date with live reporting and analysis from the team at MoneyWeek.
By Katie Williams Last updated
-
University tuition fees will rise to £9,535 next year – what does it mean for you?
The tuition fee hike has angered many students, not to mention their parents and grandparents who often help with financial support. But will it make a difference to how much you repay in the long run?
By Katie Williams Published