IAG agrees preliminary deal to buy BMI

The big news of the morning:

IAG agrees preliminary deal to buy BMI

British Airways and Iberia parent International Airlines Group (IAG) has reached a deal in principle with Lufthansa to buy British Midland.

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Followed by the response by Virgin Atlantic:

Virgin still aims for BMI despite preliminary LH/IAG deal

After International Airlines Group (IAG) announced today that it had agreed in principle with Lufthansa to take over British Midland International (BMI), there is confusion as Virgin Atlantic Airways appears to be still making a rival bid for the UK carrier.

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