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Virgin Atlantic submits bid for BMI

Virgin Atlantic submits bid for BMI

Virgin Atlantic has submitted a bid for British Midland International (BMI), the firm has revealed.

The bid from the airline will rival one made by International Airlines Group. Lufthansa has taken the decision to sell off BMI.

A term sheet has now been agreed, according to Virgin Atlantic. It added that negotiations with BMI will now be held regarding the next stage of the purchasing process.

A statement from Virgin read: "British Airways' hold over Heathrow is already too dominant, and we are very concerned - as the competition authorities should also be - that BA's purchase of BMI would be disastrous for consumer choice and competition."

The firm added that it believes its bid would prove best for the many travellers who make use of Heathrow Airport. Almost 9% of slots at the London airport will be attained by the successful bidder in the BMI deal.



Copyright Press Association 2011
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