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Your email address will not be published.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

Travel Solutions to Re-Start Coach Tour Holidays

Neil SteedmanAugust 13, 2020

TUI Group Reports €1.1bn Loss as Bookings Transfer to 2021

Neil SteedmanAugust 13, 2020

3,000 Redundancies in Ireland’s 3,500 Travel Agent Workforce “in Weeks”

Neil SteedmanAugust 11, 2020

Travel Agents Highly Critical of Government’s Green List and July Jobs Stimulus

Neil SteedmanAugust 11, 2020

Canary Islands Introduce Travel Assistance Policy to Cover Visitors for Covid-19 Expenses

Neil SteedmanAugust 11, 2020

Visit Portugal Launches Covid-19 Insurance for Travellers

Neil SteedmanAugust 11, 2020

Travellers using Dubai hub need to carry a negative COVID-19 test document

Michael FloodAugust 11, 2020

Silversea enhances online marketing toolkit for travel advisors

Michael FloodAugust 11, 2020

Virgin Atlantic Airlines files for bankruptcy in New York

Michael FloodAugust 11, 2020

Copyright © 2019 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland