Lufthansa Has Reached an Agreement to Sell BMI to IAG (The Parent of British Airways and Iberia).

bd-baFor the years, I have parked all my premium fares, flown on Star Alliance carriers, to BMI’s Diamond Club program due to generous multipliers for such fares.  Although the program has been devalued somewhat over the years, it has still been my number one for redeeming in international business class flights.

The British Midland International (BMI) has been, however, a loss making operation for years. Lufthansa was forced to buy the carrier back in 2009 when the owners exercised their option to sell.

According to the Financial Times article on this issue, the parties are expected the regulatory approval of this deal on the first quarter of 2012. It is not sure, however, how fast BMI is then forced to leave Star Alliance.

ft-bmi-lh-iag

Time to get the last redemptions in using Diamond Club miles in before they turn into Avios.

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