The last battle in the skies over Europe was won by the Anglo-Spanish. The holding International Consolidated Airlines Group, which owns the airlines British Airways and Iberia, bought British Midland International from the Germans of Lufthansa. A crushing defeat for Virgin Atlantic Airways, which had set its sights on the same prey.
The transaction – which will be completed within the first few months of the new year – is valid 270,7 million euro (to be delivered in cash, although "the net purchase price should be significantly lower", Lufthansa specified in a statement) and will guarantee IAG a share of approximately 53% of slots in theLondon Heathrow Airport.
As for the company involved in the dispute, it is not in excellent health: in the first nine months of the year it reported an operating loss of 154 million euro. With the BMI operation, IAG aims to expand its long-haul network, explained the group's managing director Willie Walsh.
Virgin, however, is not there to leave the scene like this. The billionaire Richard Branson, owner of the company, will ask the British Antitrust to block the purchase, because – in his opinion – it would lead to the creation of a dominant position in the sector.
