BMed - Great News
Looks like they are safe for the time being.
Daily Telegraph:
The Mikati family is poised to invest approximately GBP 30m (EUR 44m) to rescue British Mediterranean Airways (BMED), the UK-based airline, the Daily Telegraph reported.
The Mikati family, from Lebanon, have agreed a GBP 3m (EUR 4.4m) bridging loan for the loss-making airline, and will later this month invest approximately GBP 27m (EUR 40m) into the company.
BMED's board yesterday signed an agreement regarding the deal, the report continued. The family of Wafic Said, the Syrian private investor, controls close to 50% of BMED shares, the report said. However, existing investors will be left with very little after the refinancing, which will repay a substantial amount of the GBP 8m (EUR 11.8m) loaned to BMED by Said. One unspecified source quoted in the report said that BMED has become a problem for Said.