FRANKFURT, Oct 1 – The leading German airline, Lufthansa, said on Thursday that it will buy a remaining 20-percent stake in British carrier BMI from the Scandinavian SAS group.
Lufthansa will pay SAS a total of 38 million pounds (41.5 million euros, 60.8 million dollars) for the BMI shares that Lufthansa does not yet already own, a brief statement said.
The deal is to take effect on November 1.
Buying BMI gives Lufthansa access to coveted take-off and landing slots at London\\\’s Heathrow airport, the busiest in Europe.
Should Lufthansa decide however to sell all or part of BMI within two years, SAS could receive an additional payment, depending on "certain conditions," the statement said.