Lufthansa to sell BMI: board member

September 5, 2011
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, VIENNA, Sept 5 – German flag carrier Lufthansa plans to sell some or all of its loss-making unit British Midland (BMI), board member Stefan Lauer said Monday.

Speaking at industry event in Vienna, Lauer said that Lufthansa however intended to hold onto Austrian Airlines (AUA) despite it too being a drag on company profits.

“AUA can be restructured, I don’t have a shadow of a doubt,” the Austrian news agency APA cited Lauer as saying.

BMI lost 120 million euros ($169 million) in the first six months of the year and AUA 64 million euros, with both units hit hard in the aftermath of Japan’s massive earthquake in March and by unrest in North Africa.

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