Flypuppy - are there credible companies out there who want to take over bmir and even if LH / IAG pay them to take on bmir, can they put together a business plan which has the support of their main bank and won't risk breaching existing debt covenants ?
While a company with no debt can do whatever the shareholders and directors desire, most companies either have a loan or will need a loan to grow their business. If the bank manager won't lend or only at a very high interest rate, then usually better not to start the project in the first place.
The longer it takes for a buyer for either bmibaby or bmir to sign a legally binding contract of sale, the less likely it is that anything will be signed at all.
On the politics side, there will still be Loganair - allowing a defence to the 'Scotland has an airline no more' claim. When Malev went bust, life in Hungary still carried on...
Last edited by davidjohnson6; 18th February 2012 at 16:19.