It hasn’t been unclear for a while that Lufthansa has been seeking a solution for its ownership of BMI. Over the years Lufthansa has acquired quite a few European airlines like SN Brussels (airline that came alive after Sabena went bust), Swiss International Air Lines (incarnation of Swissair that also went bust), Austrian Airlines, and quite a few other regional or charter airlines. Lufthansa also owns 19% stake of JetBlue.
According to the article on the Sunday Times since getting involved with the BMI in the 1999 the whole exercise has cost Lufthansa about one billion dollars. Last week Lufthansa and IAG announced that they had reached a tentative agreement for BMI. IAG would buy the airline. IAG is the holding company that currently owns both British Airways and Iberia. Virgin Atlantic also announced that they were in discussion with Lufthansa regarding buying the BMI.