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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.
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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.
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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.
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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.
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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.
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Deutsche Lufthansa AG’s British subsidiary BMI said a deal has been reached for the sale of its bmibaby discount division to an unidentified U.K.-based company.
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BMI, the second-biggest airline at London’s Heathrow airport, is poised to begin pay talks with the Unite union against a backdrop of threatened legal action by the labor organization.
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Deutsche Lufthansa AG, Europe’s second-biggest airline, said third-quarter earnings dropped 27 percent and that it’s mulling bids for unprofitable U.K. unit BMI as a slowing economy hurts bookings.
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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.
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Deutsche Lufthansa AG is in talks to sell the discount division of its British BMI subsidiary to German turnaround specialist Intro Aviation GmbH, Intro Chief Executive Officer Peter Oncken said in an interview.
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