Germans set for Bmibaby swoop
Saturday 21 January 2012
Bmibaby is set to be sold to new German owners rather than to British Airways as part of the sale of its parent, bmi.
The budget arm of bmi, which is currently owned, with its legacy airline sibling, by Germany's Lufthansa, is expected to be snapped up by the German turnaround business Intro Aviation, the latter's chief executive said.
That will trigger bartering over the final sale price of bmi: when BA's owner International Consolidated Airlines Group announced its £172m acquisition of its smaller rival, it said if Lufthansa sold off bmibaby, the final price would be "significantly" lower.
"We have expressed our interest and the whole procedure is now beginning," Intro's boss Peter Oncken told Bloomberg. "The books are being opened and we are looking at the business in detail. We will see if it can be restructured."
Intro Aviation has previously bought and turned around former British Airways unit Deutsche BA and Germany's LTU.
Bmi last night said that other parties are also still interested in the low-cost arm.
- 3 The enemy within: People who hear voices in their heads are being encouraged to talk back
- 4 Phil Neville backtracks on Tomas Rosicky 'I'd smash him' comments from Match of the Day 2
- 5 British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Paris attacks: Do not call Charlie Hebdo killers 'terrorists', BBC says
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Asteroid narrowly scrapes past Earth: how to watch the closest space rock for decades as it flies by
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...