BMI chairman Sir Michael Bishop has begun legal action to force Lufthansa to complete a takeover of the airline.
Lufthansa already owns 30% of BMI and the pair have been in talks on the German carrier acquiring the BMI chairman’s 50%-plus-one stake since last October.
The takeover was expected to be completed in January, pending regulatory approval, but Lufthansa is seeking a cash injection from Bishop before going ahead. Lufthansa has held an option to take over BMI at an agreed price since 1999, but this week warned it could walk away from the deal.
BMI is an attractive option for the German airline, being the second largest carrier at Heathrow, where it holds 11% of the slots. However, the UK airline has struggled over the past 18 months.
The action in the High Court was initiated in the name of the BBW Partnership, through which Bishop holds the stake. It argues all necessary regulatory requirements to complete the sale have been fulfilled.