IAG: bmi Regional sale
International Airlines Group (IAG) has signed a binding agreement to sell bmi Regional to Sector Aviation Holdings Ltd (SAH) for a total consideration of £8 million in cash.
The sale includes all bmi Regional's fixed assets and long-term liabilities, including owned and operating lease aircraft.
bmi Regional operates a fleet of 18 Embraer regional jets on scheduled services throughout the UK and Northern Europe.
The sale is conditional upon CAA approval and it is anticipated that ownership will be transferred to SAH within two weeks.
IAG chief executive Willie Walsh said: "This deal provides a future for bmi Regional and should secure around 330 jobs".
Sector Aviation is a consortium of businessmen with considerable aviation experience including the team previously referred to as Granite Aviation, led by Ian Woodley. The business is being funded by Stephen and Peter Bond who are also investors in Loganair.
bmi Regional operates a fleet of 18 Embraer regional jets on scheduled services throughout the UK and Northern Europe.
The sale is conditional upon CAA approval and it is anticipated that ownership will be transferred to SAH within two weeks.
IAG chief executive Willie Walsh said: "This deal provides a future for bmi Regional and should secure around 330 jobs".
Sector Aviation is a consortium of businessmen with considerable aviation experience including the team previously referred to as Granite Aviation, led by Ian Woodley. The business is being funded by Stephen and Peter Bond who are also investors in Loganair.
- » Gulfstream G250 is renamed G280
- » EasyJet to fly from Southend Airport
- » British Airways manager ran ticket scam
- » Thomson Airways will become to use Biofuel Energy
- » Flybe and Finnair joint venture for Nordic passeng
- » British Airways is preparing to London 2012 Olympi
- » Down syndrome girl refused by BA
- » JetBlue Airways Reports January 2013 Traffic
- » Ryanair To Appeal Any EU Prohibition
- » Iberia strike action: ITF comment
- » New East Midlands Airport routes announced
- » Ryanair ash cloud case: EU's top court rules again
- » Flybe plans 300 job cuts in revamp programme
- » easyJet comment on the sale of Stansted Airport
Warning: Comments which include insulting, offensive sentences or hints, assault and comments with the unwritten rules of spellingand written in English characters incorrectly will not be approved.
Login to make a comment with your user name
More News
Cardiff Airport is sold to the Welsh government
First Minister Carwyn Jones said it would not be operated by the government
First Minister Carwyn Jones said it would not be operated by the government
Pilots reject Ryanair claims of agreement
The Ryanair Pilot Group (RPG) emphatically rejects Ryanair’s latest claims
The Ryanair Pilot Group (RPG) emphatically rejects Ryanair’s latest claims
United Airlines and Aer Lingus Expand Codeshare - Cardiff Airport is sold to the Welsh government
- Pilots reject Ryanair claims of agreement
- Another significant A320 endorsement by a leadin
- Qatar Airways to launch two new routes to Iraq
- SWISS receives its first “sharklet” Airbus A320
- Véronique Creissels nominated Head of Communicat
- Wizz Air Ukraine takes delivery of its first A32
- Turkish Airlines to start flights to Houston
- Pegasus Airlines launches flights to Barcelona
- Cardiff Airport is sold to the Welsh government
- Pilots reject Ryanair claims of agreement
- Qatar Airways to launch two new routes to Iraq
- Turkish Airlines to start flights to Houston
- Pegasus Airlines launches flights to Barcelona
- Air Arabia takes delivery of second aircraft in
- SWISS receives its first “sharklet” Airbus A320
- Another significant A320 endorsement by a leadin
- United Airlines and Aer Lingus Expand Codeshare
- Wizz Air Ukraine takes delivery of its first A32
- Qantas Group fleet update
- Qatar Airways touches down in Cambodia
- Air Pacific: Increase Flights With Arrival Of A3
- Small plane crashes in eastern Georgia, killing
- Air Arabia takes delivery of second aircraft in
- The first production A400M soars on its maiden f
- Lion Air orders 234 A320 Family aircraft
- MB Aerospace to make acquisitions after buyout
- Boeing 747-8 Serves 100th Airport
- 2013 Air Transport News Awards
- Boeing Aerospace & Defense Supplier Summit
Boeing and State of Washington Back Aerospace and Defense Supplier Summit - Spectacular celebration of 100th year
The South Carolina Historic Aviation Foundation will mark the 100th anniversary of aviation in the Palmetto St - Aviation Security Conference,September 13-14
The aviation industry continues to face a multitude of security threats on a daily basis from crime and terror - Airport Show 2011, in Dubai
In May 31-June 2 Airport Expo opens its 11th year exhibition in Dubai.
