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Your email address will not be published.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

Aer Lingus Unveils Brand Refresh with A330-300 in New Livery

Neil SteedmanJanuary 18, 2019

Irish Cruise Market Grew 8.8% in January-September Period – CLIA

Neil SteedmanJanuary 17, 2019

CAR Advises Trade on Aviation Licences in Event of No Deal Brexit

Neil SteedmanJanuary 17, 2019

Ryanair Holidays is “Discontinuing” Its Service

Neil SteedmanJanuary 17, 2019

Great Value Travel Deals – 17th January 2019

Neil SteedmanJanuary 17, 2019

Shannon Airport Welcomes Opportunity to Extend US Preclearance Facilities

Neil SteedmanJanuary 17, 2019

Finnair to Fly to Sapporo in Japan

Michael FloodJanuary 17, 2019

Dublin Airport Sets New Passenger Record in 2018

Michael FloodJanuary 17, 2019

Turkish Airlines Bowling Tournament Excitement Has Begun

Michael FloodJanuary 17, 2019

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