Lufthansa pulls bmi sale after price fails to attract bidders

[Nigelinoz]

Lufthansa pulls bmi sale after price fails to attract bidders - Times Online

Lufthansa, the German flag carrier, has withdrawn bmi from sale and will concentrate on trying to turn around the loss-making airline itself.
After it became clear that an acceptable price could not be achieved, the company confirmed that it was no longer in talks with buyers.
Wolfgang Prock-Schauer, the former head of Jet Airways in India, will become chief executive of bmi today. He has been set the task of restructuring the airline.
If Lufthansa is able to stem the losses and the aviation market recovers, the company will consider putting bmi back on the market.