BMI
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And the Times put the deal at £318 million.
Times Online: Lufthansa buys BMI for £318 million
Times Online: Lufthansa buys BMI for £318 million
Join Date: Feb 2007
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Join Date: Oct 2008
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Ok guys, time to start speculating on what is going to happen to us as a group. Or more to the point are baby and regional going to be packed up and shipped off onto to someone else? Please NO!!!!!!
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Shame that UK plc didn't have the political muscle to be able to delay Open Skies. Yet again , it looks like UK companies will be the losers in another EU mandate.I wonder if it would have all gone through if it had been CDG that everyone had wanted to get into? I understand that more and more of BMI's engineering work is going East to be done by Lufthansa Technik. What price UK jobs ?
Long-term future of the airline is sorted, and a solid company is backing a solid business. Brilliant news all around.
Join Date: Dec 2006
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In similar vein, I received this press release this morning from S7:
Statement from S7 Airlines:
At the request of the Takeover Commission in Austria, S7 Airlines can confirm that letters were sent to Österreichische Industrieholding AG (OIAG) and its advisors on Tuesday, October 21, and Friday, October 24, regarding Austrian Airlines.
The letters included an analysis by S7 of the current position of Austrian Airlines and the principles on which S7 would be interested in investing in it, and in continuing negotiations with OIAG. None of these letters represent an offer or a tender or a legal obligation to buy any securities from any party.
Given the current market conditions, a deferment in the process to allow further consideration of the business is the right way forward. We welcome the opportunity to further explore how our investment can both secure Austrian Airlines' future and enhance our own operations in Europe by developing Vienna as a key hub for our passengers.
We believe the strategy behind S7 offer will allow Austrian Airlines to have a strong, independent future, while also providing growth opportunities in line with S7's international ambitions. Our bid offers a strong, prosperous future for the group.
Statement from S7 Airlines:
At the request of the Takeover Commission in Austria, S7 Airlines can confirm that letters were sent to Österreichische Industrieholding AG (OIAG) and its advisors on Tuesday, October 21, and Friday, October 24, regarding Austrian Airlines.
The letters included an analysis by S7 of the current position of Austrian Airlines and the principles on which S7 would be interested in investing in it, and in continuing negotiations with OIAG. None of these letters represent an offer or a tender or a legal obligation to buy any securities from any party.
Given the current market conditions, a deferment in the process to allow further consideration of the business is the right way forward. We welcome the opportunity to further explore how our investment can both secure Austrian Airlines' future and enhance our own operations in Europe by developing Vienna as a key hub for our passengers.
We believe the strategy behind S7 offer will allow Austrian Airlines to have a strong, independent future, while also providing growth opportunities in line with S7's international ambitions. Our bid offers a strong, prosperous future for the group.
ReHeat....Sadly, I foresee an asset stripping exercise to recoup some of the money spent, then a Long haul operation set up at LHR to those lucrative routes out of LHR. Hopefully, local pilots will get a look in. BMI have already axed hundreds of engineering jobs 2 years ago. I foresee all base jobs going.
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LH are going to be a hard nut to crack. They seem to be going from strength to strength and good luck to them 
BA and VS must be sweating like the preverbial...
Hope LH invest in bmi and take Birdseed Airways FULL ON!
Let the games begin!
BA and VS must be sweating like the preverbial...
Hope LH invest in bmi and take Birdseed Airways FULL ON!
Let the games begin!
Join Date: Feb 2008
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I am afraid there are not that many assets to strip. Like other airlines all bmi has is its trading name [a brand which is not that strong anyway]. However,I view this occurance as very much a positive thing. There will no-doubt be some pain, but regarding the 'dead-wood' above it needs to be done anyway. LHR is valuable, LH is making a play now so that when times become good they will be strong. Whatever operation is set up from LHR -they will need pilots, crew, eng's etc. they may wear different uniforms but they will have jobs [more than the poor souls at Sterling] The only concern I see is the smaller out-stations. There may be some significant changes there.
Good Luck to all.
Good Luck to all.
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Whyever do you moan that this is bad? MRO will go where it is best for the operation, under LH Technik, as it did/would have done under Sir MB. That will be EMA, or Jakarta, or Warsaw, iaw price/turntime/quality. The LHR slots misused for decades for low yield/load Teeside will now serve, as MB always intended, a big heavy route, risk of loss, prospect of profit taken by LH. Crew will be EU Nationals, iaw EU law: Brits if they meet LH standards and accept LH Ts&Cs - why would that be a problem?
UK would not have been able to fill, finance, or crew 3 overlapping long haul carriers, BA, VS, so BD had limits to growth. Now UK will have a presence on 4 consortia: BA in OneWorld; ex-Air UK in AF/KL/DL/NW SkyTeam; ex-Euro-BD in LH's Euro-Team - Air One, SK and the bug-smashers; and VS and ex-long haul BD in Star Alliance, led not by frail UA, but by LH. Is this bad? Logical next step is to run all Euro regions too small for a long haul hub, to feed MUC/FRA, thus giving all the "London Airways" protesters alternatives to LHR. BD was built, from the move from Burnaston to EMA, to be sold. Would you have preferred MB to sell to AF/KL? He grew the operation while all around every Dan died. If this had been my achievement I would have cashed in my £Mns. 20 years ago to lead a life of Riley. Instead the BD workforce faces a firmer future than many. Like Air UK in KLM, Dan in BA, you will change your identity.
UK would not have been able to fill, finance, or crew 3 overlapping long haul carriers, BA, VS, so BD had limits to growth. Now UK will have a presence on 4 consortia: BA in OneWorld; ex-Air UK in AF/KL/DL/NW SkyTeam; ex-Euro-BD in LH's Euro-Team - Air One, SK and the bug-smashers; and VS and ex-long haul BD in Star Alliance, led not by frail UA, but by LH. Is this bad? Logical next step is to run all Euro regions too small for a long haul hub, to feed MUC/FRA, thus giving all the "London Airways" protesters alternatives to LHR. BD was built, from the move from Burnaston to EMA, to be sold. Would you have preferred MB to sell to AF/KL? He grew the operation while all around every Dan died. If this had been my achievement I would have cashed in my £Mns. 20 years ago to lead a life of Riley. Instead the BD workforce faces a firmer future than many. Like Air UK in KLM, Dan in BA, you will change your identity.
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Isn't this all a great surprise! I'm off to brush down my Berlitz German course... Just in case
Maybe Luftie will turn BMI baby back into a proper airline instead of a bit of a joke.
Maybe Luftie will turn BMI baby back into a proper airline instead of a bit of a joke.
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Radio 5 just did an interview with someone from LH (didn't catch their name/position) and although cagey about specifics he was pushing the line that the model they would use was the successful takeover of Swiss. People will know far better than I how welcome that is, but on the face of it Swiss have increased their fleet, and have new aircraft on order via their parent company, which suggests things may work out OK.
As a Manc I'm interested to see what they do at MAN. Whilst the demographics in Germany are different, LH seem happy to have multiple long haul bases in the same country, and will have the benefits of scale that bmi didn't previously. They have also expanded their own MAN operation substantially over the years. Time will tell....
As a Manc I'm interested to see what they do at MAN. Whilst the demographics in Germany are different, LH seem happy to have multiple long haul bases in the same country, and will have the benefits of scale that bmi didn't previously. They have also expanded their own MAN operation substantially over the years. Time will tell....