In what can be described as some good news, BMI Regional has been sold by International Airlines Group to a company called Sector Aviation Holdings.
The price: A cool £8 million.
The sale is pending CAA approval, but IAG anticipates this will be completed within two weeks.
For that cool £8 million, Sector Aviation Holdings will get:
- All of BMI Regional’s fixed assets and long-term liabilities
- A fleet of 18 Embraer ERJ-135 and -ERJ-145 regional jets.
- And the staff of BMI Regional – around 330 jobs.
Sector Aviation is a consortium of businessmen including Ian Woodley, – the founder of Business Air which was sold to BMI, which became BMI Regional – a full circle if you will, with funding provided Stephen and Peter Bond, who are also investors in Scottish airline Loganair.
Future plans for Regional have not been announced at this time – I’d expect something soon enough.
It’s good to see that BMI Regional has survived the axe that was being sharpened for it. Its previous performance should give it a fighting chance for the future and the people who work for Regional.