Marks & Spencer Group Plc said it plans faster delivery of online orders and will make products more available as it targets 1 billion pounds ($1.6 billion) of e-commerce sales and addresses two decades of underinvestment.
British Airways parent IAG closed in on a deal to buy Deutsche Lufthansa AG’s U.K.-based BMI unit as it seeks a bigger share of the lucrative business-travel market at London Heathrow airport after third-quarter profit slumped.
Richard Branson’s Virgin Atlantic Airways Ltd. is seeking to trump a bid from arch-rival British Airways for Deutsche Lufthansa AG’s BMI unit after persuading the German carrier to grant due diligence for a rival offer.
Deutsche Lufthansa AG’s British subsidiary BMI said a second, European, bidder is in the running to buy its Bmibaby discount division, a month after disclosing that an unidentified U.K.-based company had made an offer.
IAG, the owner of British Airways and Spain’s Iberia, said it’s closing in on the purchase of Deutsche Lufthansa AG’s BMI unit following a counterbid from U.K. billionaire Richard Branson’s Virgin Atlantic Airways Ltd.
Deutsche Lufthansa AG Chief Executive Officer Christoph Franz predicted the sale of its unprofitable BMI unit to International Consolidated Airlines Group SA will clear antitrust hurdles at the first attempt.
Deutsche Lufthansa AG, Europe’s second-largest airline, hasn’t decided yet if it wants to sell its U.K.-based BMI unit and remains focused on “restructuring” the money-losing carrier, a spokesman said.