Bishop settles bmi sale wrangle with Lufthansa
23rd June 2009
CHESHIRE-born airline tycoon Sir Michael Bishop, founder of bmi, will make £223m from the sale of his half-share in the carrier after settling a legal action with Germany's Lufthansa. Lufthansa, which already owns 30% of bmi, struck a deal with the Bowdon-born Bishop in 1999 to buy out his stake at a later date. In October last year, Mr Bishop exercised his right to sell the rest of his interest (50% plus one share), which would have forced the Germans to hand over about £287m.With the value of airlines havi......for the full story register now for free or login below...






