IAG AND LUFTHANSA REACH AGREEMENT IN PRINCIPLE ON THE SALE OF BRITISH MIDLAND LTD

International Airlines Group (IAG) and Deutsche Lufthansa AG (Lufthansa) have today reached an agreement in principle for the sale of British Midland Ltd (BMI) to IAG.

The sale and closing of the deal remain subject to conditions including a binding purchase agreement, further due diligence and regulatory clearances. It is envisaged that the purchase agreement will be signed in the coming weeks and the aim is for the transaction to be completed in the first quarter of 2012.