There's been am Elephant in the Room in the sale of British Midland Airways to Interational Consolidated Airlines Group, and it's been BMI Baby. The Low Cost Carrier (operating a fleet of 737-300/500 aircraft, based out of various UK airports) has been a questionmark in the sale of the sale - with IAG getting a discount from Lufthansa if they failed to sell the unit … [Read more...]
BMI Futures Week: So what happens if IAG gets the nod?
With BMI futures week, I'm now going off into the wild possibilities of what might happen. This is based on the following: Gut feeling Prescience and things that have happened before. What we know: IAG Group is the preferred buyer for British Midland Airways, although Virgin is making its usual noises. There's about zero chance of being migrated to Miles and … [Read more...]
BMI to leave Star Alliance upon sale completion
Looking through the slide deck from the IAG have published on their investors relations site, it is now confirmed that BMI's membership of Star Alliance will terminate upon completion of the purchase of BMI by IAG. The transaction is due to be completed by 31st March 2012, subject to regulatory approvals. The slide deck also reveals a few more features: BA will be … [Read more...]
From the horses mouths: Lufthansa and IAG on the BMI sale
The press releases for today's big announcement today of the sale of British Midland Airways to International Consolidated Airlines Group (IAG) First up, Lufthansa - http://presse.lufthansa.com/en/news-releases/singleview/archive/2011/december/22/article/2054.html Following the announcement on November 4, 2011, Deutsche Lufthansa AG (Lufthansa) and International Airlines … [Read more...]
Lufthansa sells BMI to… IAG (BA/Iberia)
Well it seems Virgin was too late to the party with Deutsch Lufthansa AG deciding to sell it's British Midland Airways subsidiary to ... International Consolidated Airlines Group (IAG). For IAG, the spoils of war are simple: 56 slots at Heathrow. The cost has been revealed to be £172.5m, and IAG/Lufthansa aim to have the deal done in the next 3 months. The deal of … [Read more...]
Bad news: LOLCats are coming to GhettoIFE
It seems the Internet is powered and populated by Cats from what I've seen. And it seems this corner of the Interwebs will be invaded by LOLCats too. Quick primer - Take an image of a cat. Add a few funny or appropriate comments (Ideally in IMPACT font). Add childlike language. Boom. You can haz LOLCat! However, LOLCats have a lot to do with frequent flying. And over in … [Read more...]
IAG pledges to “Grab” BMI according to Bloomberg
The ongoing saga of who is buying British Midland Airways (owner of British Midland International and BMI Baby) continues to rumble on with International Consolidated Airlines Group (owner of British Airways and Iberia) seemingly wanting BMI according to Bloomberg. IAG concedes that whilst the sales process is taking longer thanks to Virgin Atlantic Airways putting it's … [Read more...]
Willie Walsh and APD… launches a new attack.
It seems IAG and British Airways aren't happy with the state of the planned APD increase at all. To the point where they are now accusing the government of costing new jobs. According to British Airways: The planned 800 people that they were planning to recruit has been knocked down to 400 The planned re-introduction of a stored 747-400 has been put on hold for the … [Read more...]
BMI… A bucketful of losses….
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 … [Read more...]
BMI/IAG – Statement from Donington Hall – Business as usual
Statement from BMI HQ at Donnington Hall Following on from today’s announcement we’d like to advise that it’s business as usual at bmi. The route network and schedule for bmi remains as is and any bookings made now for future travel will be fully honoured. An agreement in principle for the sale of bmi to IAG has been reached and it is expected that the purchase agreement … [Read more...]
