The Telegraph has been eyeing what state BMI is in and what it could be worth.. and the losses it could be stemming. And the numbers don’t make good reading….
BMI is on target to loose £145 million this year, with the liabilities that remain at a staggering £362 million.
It seems that Morgan Stanley did the numbers, and it didn’t turn out what they expected with the amount of money needed to keep BMI afloat.
It’s assets make for interesting reading too:
- Heathrow Slots worth £345 million (although the sale of the slots before the main sale may have dropped that by £50 million)
- £140 Million of “Airline related assets” (Reading into that what you will)
- £41.7 Million in in NATS (Air Traffic Control Operator)
- And an attractive London positioning – whatever that may be worth.
With the spoils of 8.5% (65 pairs) of Heathrow’s landing slots going to the victor, it’s no wonder IAG and Virgin are fighting over this like a pair of dogs over a steak.
This is just a glimpse of what’s going on behind the scenes. I suspect there is a lot more to be played out before it’s game over….
