News

IAG Sells BMI Regional for £8m

IAG Sells BMI Regional for £8m

IAG has sold BMI Regional to aviation consortium Sector Aviation Holdings for £8 million cash. 

The sale includes all bmi regional’s fixed assets and long-term liabilities, including owned and operating lease aircraft. 

If approved by the CAA, ownership is expected to 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, including those previously known as Granite Aviation led by Ian Woodley. Sector Aviation is being funded by Stephen and Peter Bond, who are also investors in Loganair.

BMI Regional

IAG continues in its efforts to sell bmibaby – if it does not succeed it plans to close the airline in September. Flights from Belfast will cease in June.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

CAR Issues Regulation Notice Regarding Sindaco Ltd

Neil SteedmanJuly 20, 2018

Three Airports Welcome Norwegian 2019 Summer Schedule

Neil SteedmanJuly 20, 2018

Aegean Airlines is Skytrax Best Regional Airline in Europe 2018

Michael FloodJuly 20, 2018

Bangkok from €549, Sydney from €1,120 in Emirates July Sale

Neil SteedmanJuly 18, 2018

Lufthansa to Go Five Daily on Dublin-Frankfurt

Neil SteedmanJuly 18, 2018

Singapore Airlines Voted World’s Best Airline at Skytrax Awards

Neil SteedmanJuly 18, 2018

Finnair Extends ATTS Contract to Represent Airline in Northern Ireland

Michael FloodJuly 17, 2018

George Best to Overlook Donegall Square from New Belfast Hotel Rooftop

Neil SteedmanJuly 17, 2018

New Air France Business Lounge at Paris-CDG

Neil SteedmanJuly 17, 2018

Copyright © 2016 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland