bmi continues to lose cash as Lufthansa considers options

27th Oct 2011
bmi continues to lose cash as Lufthansa considers options

Troubled carrier bmi has seen losses widen to €154 million during the first nine months of 2011 with owner Lufthansa now weighing its “strategic options” for the carrier.

bmi lost €90 million in the period in 2010, but has been hard hit by political turmoil in the Middle East where it has a strong presence.

The situation has led to suggestions of a possible sale, with Etihad Airways of Abu Dhabi, British Airways and Virgin Atlantic all mooted as possible buyers.

Christoph Franz, chief executive of Lufthansa, said: “We shall withdraw from loss-making units without a reasonable turnaround perspective.

”We have already done so in the case of Lufthansa Italia and we are currently weighing up other strategic options, among others, with bmi.”

Lufthansa Group itself reported an operating profit of €578 million for the first nine months of 2011.

SWISS increased its operating result to €244 million for the first three quarters while Austrian Airlines reduced its losses, achieving an operating loss €34 million.


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