THE Lufthansa takeover of BMI British Midland has been thrown into doubt by a row with Sir Michael Bishop, the British airline’s founder, over the injection of fresh money into the company.
The German flag carrier has demanded that Bishop, one of the UK’s best-known airline entrepreneurs, take part in a recapitalisation of BMI to avoid the risk of it breaching regulatory rules on capital reserves.
Bishop is understood to have told Lufthansa he will not play ball and that there is no risk of a breach. Both sides are now seeking legal advice on how to resolve the wrangle.
Lufthansa’s BMI bid hit by cash row - Times Online
