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...]
IAG purchase of BMI: Looks to clear after concessions
An update from Reuters indicates that International Airlines Group (owner of British Airways and Iberia) is prepared to make more concessions to enable the sale of British Midland International/British Midland Airways According to the report, IAG offered give up 10 slots for domestic and international use. But it seems the moaning of Virgin Atlantic Group has resulted in a … [Read more...]
IAG waits for the European Commision to approve the purchase of BMI…
Well, we're down to the final week of the hopefully will close the Lufthansa saga of owning British Midland Airways - or BMI as the rest of us know it as. The sale is down to the European Regulators either a yay... or nay. The EU Anti-Trust regulators have extended the provisional deadline for a decision on the acquisition from 16th March to 30th March Both Lufthansa and … [Read more...]
A second group enters the frame for BMI Baby….
It seems there is a fight brewing for BMI Baby. Yes, I laughed at that too. But apparently people are interested in the British Midland Airways Low Cost Carrier, with a second group - quoted as an "EU based Airline Group" now joining the action. British Midland Airways say: "This potential new owner, which has operations in several countries across Europe, would acquire … [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...]
Virgin puts its money on the table – progressing with “Due Diligence” of BMI
Well it seems Virgin has finally found the guts to put it's money where it's mouth is, and has put a rival bid on the table for British Midlands Airways Ltd (also known as BMI, British Midland International) according to Bloomberg Virgin Atlantic has been granted "due diligence" to create a bid that will trump International Airline Group's (British Airways and Iberia) bid … [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...]
Airlines band together to fight Air Passenger Duty rises
What do British Airways (IAG), EasyJet, RyanAir and Virgin Atlantic all have in common? It seems they all have a genuine hatred of Air Passenger Duty (APD), and have called for the UK Government and want it scrapped. APD was originally a "Green" Tax, that strangely by the government of the day - not ring-fenced. Since then, further administrations have tried to greenwash … [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...]
IAG on BMI Miles – We can’t tell you anything yet…
Simon Calder of The Independent has been writing about the changes about British Airways and Airmiles are making with the jump to Avios. But there is one nugget of information about BMI Diamond Club and it's future if IAG complete the purchase of BMI. And here it is in completion. "At this stage, IAG has signed a letter of intent to buy BMI and it is hoped that the deal … [Read more...]
