Virgin seeking bmi tie up

Virgin Atlantic is looking to establish Europe’s biggest airline through a partnership with recently bought out bmi.

"Everyone has speculated that it would make sense for Virgin Atlantic and bmi to combine their long-haul and short-haul networks," Steve Ridgway, chief executive of Virgin Atlantic, said. "There is now a major opportunity to do that. I am sure that Lufthansa realises this could be a really good example of the right industry consolidation."

Lufthansa said yesterday it was looking to bring its stake in bmi up to 80% in a €400 million buy out principally of stocks owned by bmi chairman Sir Micheal Bishop which is due to take place in January.

Source: Routes News