Second group enters frame to buy Bmibaby

5 Mar 2012 by BusinessTraveller

An “EU based airline group” has signed a non-binding term sheet with Bmi for the sale of Bmibaby, adding to a similar agreement signed by a UK based company last month (see online news February 2).

In a statement Bmi said:

“This potential new owner, which has operations in several countries across Europe, would acquire 100 per cent of the shares of Bmibaby. This would include the aircraft fleet, the existing route network and the continued employment of the existing staff.

“This non exclusive term sheet is in addition to the term sheet already signed with a UK based company in January 2012. Bmi plans to sign a definitive sale purchase agreement with one of the parties in the next few weeks. The completion of the transaction would occur shortly after this, subject to receiving all the necessary approvals.

“The Bmibaby brand name would continue to be used for an interim period and Bmibaby’s head office would remain in the East Midlands with the airline continuing to operate from its existing bases in the UK.”

Bmi’s CEO Wolfgang Prock-Schauer said that Bmibaby had “attracted a great level of interest and our discussions open up great future prospects for the airline and its employees”.

Bmi’s owner Lufthansa signed an agreement in principle to sell Bmi to the BA/Iberia founded International Airline Group (IAG) late last year. At this time IAG’s chief Willie Walsh said that “Bmi Regional and Bmibaby are not part of our plans and Lufthansa has the option to sell them before completion”.

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Report by Mark Caswell

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