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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.

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NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 50 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 40 years.

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