22 December 2011 Last updated at 02:42 ET
British Airways owner IAG has agreed a binding deal to buy BMI from Lufthansa for �172.5m.
The German airline signed an early deal with IAG in November but had also been in discussions with Virgin.
Virgin had argued that a deal with IAG would be uncompetitive because BA already had a "dominant" position regarding landing slots at Heathrow.
BA will net 56 more slots at Heathrow in the deal. The BMI takeover is still subject to competition clearance.
Source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-16298167
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