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BMI's no comment on merger rumour | BMI's no comment on merger rumour |
(about 1 hour later) | |
UK airline BMI has declined to comment on newspaper speculation that it has been approached by Abu Dhabi carrier Etihad over a possible merger. | UK airline BMI has declined to comment on newspaper speculation that it has been approached by Abu Dhabi carrier Etihad over a possible merger. |
Etihad first went to BMI in the summer over a potential deal which values BMI at £600m, the Sunday Times reported. | Etihad first went to BMI in the summer over a potential deal which values BMI at £600m, the Sunday Times reported. |
The Middle East airline is also said to have spoken to Germany's Lufthansa, which owns a 30% stake in BMI. | The Middle East airline is also said to have spoken to Germany's Lufthansa, which owns a 30% stake in BMI. |
Etihad said it had had "a number of discussions with a variety of carriers" but "no firm talks planned". | |
BMI operates more flights from London's main Heathrow Airport than any other airline except British Airways. | BMI operates more flights from London's main Heathrow Airport than any other airline except British Airways. |
Industry-wide issues | Industry-wide issues |
Like almost all airlines, BMI has seen its profits trimmed this year by the continuing high price of aviation fuel. | Like almost all airlines, BMI has seen its profits trimmed this year by the continuing high price of aviation fuel. |
This has led to a number of carriers seeking closer ties with rivals, such as British Airways plans for a tie-up with American Airlines. | This has led to a number of carriers seeking closer ties with rivals, such as British Airways plans for a tie-up with American Airlines. |
Other carriers have faced financial problems, such as Italy's Alitalia, which is trying to secure a rescue deal. | Other carriers have faced financial problems, such as Italy's Alitalia, which is trying to secure a rescue deal. |
BMI flew 10.6 million passengers last year, and operated 70 aircraft. | BMI flew 10.6 million passengers last year, and operated 70 aircraft. |
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