Well it seems that the Virgin Group are distinctly unhappy at the International Airlines Group takeover of British Midland International, and is to appeal against the European Commission's decision to allow the purchase to go through. Virgin objects in lots of whiny language with Richard Branson said Virgin Group stating: "This deal was agreed with lightning speed and we … [Read more...]
The price of a IAG take-over: 1200 jobs to go
1200 posts to go seems to be the first efficiency that IAG wishes to make with the take over of BMI Both Unite who represent the ground crews and cabin staff as well as BALPA who represent the pilots are trying to negate the losses. Unite say: "Unite will be fighting to maintain as many jobs as possible and ensure that where vacancies exist people can be placed into … [Read more...]
BMI on the sale to IAG: From the Horses Mouth to the Diamond Club members
This came in a notch earlier from Diamond Club on the sale of BMI to IAG (British Airways): For those of you who can't see the image: We’d like to advise you that the EU Competition Authority has today approved the sale of bmi to IAG. We are very aware that Diamond Club members want to know what will happen to their accounts when bmi is acquired by British … [Read more...]
More on the slot sale due to IAG’s purchase of BMI
Looking at the IAG press release, more details have been made about the spits of the 14 slots that IAG have to cede for the purchase of BMI. Seven daily slot pairs to be used between Heathrow and either Edinburgh and/or Aberdeen. Five daily slot pairs to be used between Heathrow and the following destinations - Nice, Cairo, Riyadh, Moscow, Edinburgh and/or Aberdeen. Two … [Read more...]
IAG Secures EU Clearance to purchase BMI.
Well - it's done. International Airlines Group has secured the clearances to purchase British Midland Airways from Lufthansa According to Reuters, the 14 slots that were given up were the key to complete the purchase. The deal worth £172.5 million will give IAG through its British Airways unit the remaining slots. More importantly, more information about the slots have … [Read more...]
Office of Fair Trading nods through IAG/BMI deal – off to the EU for clearance
The take over of British Midland Airways Ltd has taken another step closer today according to Office of Fair Trading According to the statement: The OFT today announced that it has decided not to make a request to the European Commission for a UK review of the proposed acquisition by International Airline Group (IAG) of bmi from Lufthansa. The OFT will continue to work … [Read more...]
IAG (BA+Iberia) numbers are out and good…
The IAG Group has released its latest numbers, and all is going well it seems, making profits of £410 million. £190m in 2010, with revenues up 10.4 per cent. Pre-tax profit was up from £70m in 2010, to £426m However, with all these good numbers, there is a heck of a sting in the tail. And that's in the form of the Air Passenger Duty collected, which comes in at a whopping … [Read more...]
Surprise Surprise. Virgin makes a complaint over the BMI takeover by IAG
Well, if you couldn't see this coming... you need new glasses. Virgin Group today lodged a formal complaint at the European Commission over International Consolidated Airlines Group takeover of British Midland Airways. Virgin group argues there will be a " "choice of one" on flights between Aberdeen and Edinburgh and Heathrow (ignoring the small matter of flights to other … [Read more...]
IAG to merge BMI in upon completion of takeover
From the IAG Traffic Stats document, it seems the British Airways pilots have voted to integrate BMI Mainline (A319/A320/A321/A330) into the British Airways arm after the merger is approved IAG plans to integrate bmi mainline into British Airways, subject to receiving regulatory approval for the acquisition. This follows agreement by British Airways’ pilots to make … [Read more...]
BMI Futures Week – Things to think about…
Well I was going to write about the Virgin threat, but lets be frank - It isn't creditable unless they manage to throw a big spanner with the EC/Monopolies Commission. So let me wrap up this discussion for a bit - until it all goes pear shaped (which knowing BMI - is entirely likely) Status - If you've got to a certain point, hang on tight. If you're short before say April, … [Read more...]
