Lufthansa unsure over bmi control

May 16, 2009
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, BERLIN, May 16 – Leading German carrier Lufthansa is no longer interested in acquiring full control of British airline bmi because the price is too high, Saturday\’s edition of Suddeutsche Zeitung reports.

Lufthansa management felt that bmi\’s financial position was worse than first thought, says the report.

The British airline lost 112 million euros (151 million dollars) in 2008.

The report, which did not cite any sources, follows Thursday\’s decision by EU antitrust regulators to approve the deal whereby Lufthansa would increase its 30 percent stake in bmi to 80 percent.

"After examining the operation, the (European) Commission concluded that the transaction would not significantly impede effective competition," Europe\’s top antitrust watchdog said in a statement.

Lufthansa\’s takeover, announced in October, would make the German carrier the second biggest airline at London\’s Heathrow airport, Europe\’s busiest hub.

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