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Virgin makes rival bid for BMI
Virgin Atlantic has confirmed that it has signed a terms and conditions contract with Lufthansa over the sale of BMI.
Virgin said it is now in negotiations with Lufthansa over the next stage of the purchase.
BA's parent company, International Airlines Group, last month announced it had reached an agreement in principle to buy BMI from Lufthansa.
Since then, Virgin has been clear about its intention to stop that deal with an offer of its own.
“British Airways’ hold over Heathrow is already too dominant and we are very concerned – as the competition authorities should also be – that BA’s purchase of BMI would be disastrous for consumer choice and competition," said a Virgin spokesman.
"We believe that our offer will lead to the best outcome for the millions of consumers that fly in and out of Heathrow every year.”
According to reports in the financial press, Virgin's offer is lower than IAG's but it is relying on the fact that any deal is likely to be completed more quickly as it would not be open to so much scrutiny from competition authorities.
Lufthansa is expected to make a final decision on the sale early in the new year.
by Bev Fearis
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Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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