German flag-carrier Lufthansa is taking a controlling stake in airline BMI British Midland as the industry consolidates further.
The deal will result in the German carrier – which is the second largest in Europe – having access to the second largest number of departure slots at Heathrow airport (behind British Airways).
The move marks a further consolidation in the industry, with Lufthansa leading the way, utilising its strong cash and dominant market positions.
Earlier this year the carrier took a 45 per cent stake in Brussels Airlines, and is presently in talks to purchase elements of loss making Italian carrier Alitalia.
According to a statement from Lufthansa, Sir Michael Bishop, BMI chairman, exercised his option to sell the German flag-carrier his stake of 50 per cent plus one share. This deal was first agreed in November 1999.
It marks the end of over 40 years involvement with the company for Mr Bishop.
The deal is thought to exclude small subsidiary BMIbaby.
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