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Lufthansa examining sale of bmi: Source

Last Updated: Monday, September 12, 2011 - 09:18

Frankfurt: German airline group Lufthansa (LHAG.DE) has mandated banks to sound out a potential sale of its loss-making British unit bmi, a source familiar with the process told media.

Morgan Stanley was one of the banks appointed, the person said on Sunday, adding the process was at an early stage.

Lufthansa declined to comment.

Management board member Stefan Lauer said earlier this month Lufthansa was seeking a partner as one option for bmi, which generated an operating loss of 120 million euros (USD 164 million)in the first half.

Lufthansa bought a majority stake in bmi, which traces its roots to a 1938 flight school for Royal Air Force pilots, in 2008 and later acquired the 20 percent it did not own from SAS. 

Bureau report

First Published: Monday, September 12, 2011 - 09:18
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