Lufthansa set to sell BMI

Monday 05 September 2011 15.13
BMI up for sale, says Lufthansa
BMI up for sale, says Lufthansa

German flag carrier Lufthansa plans to sell some or all of its loss-making unit British Midland (BMI), board member Stefan Lauer said today.

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.

BMI lost €120m in the first six months of the year and AUA €64m, with both units hit hard in the aftermath of Japan's massive earthquake in March and by unrest in North Africa.