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Virgin Atlantic looking to buy BMI from Lufthansa

After British Airways recent announcement about the proposed merger with Iberia and Qantas it seems that Virgin Atlantic is now looking to get into the takeover scene with news of talks regarding BMI. BMI is majority owned by Lufthansa, the German airline, although there has been speculation of a possible sale of the operation for sometime. It seems as though Virgin Atlantic has taken the bull by the horns and opened talks about a possible acquisition.

Virgin Atlantic needed to move into the market after its major competitor British Airways announced plans to discuss a £3 billion plus three-way merger. It seems as though mergers and takeovers in the airline sector are set to increase in the short to medium term as groups look to reduce their overall cost base and bring in additional routes as and when applicable. These two moves will not be the last in the medium term as many of the long haul airlines are still suffering severely from the increased price of oil some weeks ago.

Time is of the essence in the airline industry as many expect a new wave of failures in the New Year which could see many well-known names disappear from the industry forever.

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