Bmibaby
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Anyone tried this lot?
Mothercare UK Limited 2012
Call us on 0844 875 5222 Mothercare UK Limited (a private limited company).
Registered in England no. 533087. VAT Reg no. 440 6445 66
Registered Office: Cherry Tree Road, Watford, Hertfordshire, WD24 6SH
Mothercare
Time to jump ship before it sinks any lower in the water.
I sympathise with the workforce, but it's time to get real and save yourselves. Lifejackets are in short supply in the airline industry (baby cots even moreso).
Mothercare UK Limited 2012
Call us on 0844 875 5222 Mothercare UK Limited (a private limited company).
Registered in England no. 533087. VAT Reg no. 440 6445 66
Registered Office: Cherry Tree Road, Watford, Hertfordshire, WD24 6SH
Mothercare
Time to jump ship before it sinks any lower in the water.
I sympathise with the workforce, but it's time to get real and save yourselves. Lifejackets are in short supply in the airline industry (baby cots even moreso).
Last edited by acbus1; 15th Feb 2012 at 15:49.
Join Date: Jun 2001
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Ramp FM this week was that if the BMIR deal falls through then the pilots go with the bmi pilots to BA.
My Brief seems to think that would also have to be the case with us but needs to check out the contracts a bit more.
My Brief seems to think that would also have to be the case with us but needs to check out the contracts a bit more.
Join Date: Feb 2001
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Nitefiter
Your brief is correct.
IAG have agreed to purchase 100% of the bmi group for approx £170m that price assumes that both bmir & WW would have been sold or at least in contract to be sold prior to completion of the share purchase of bmi.
My understanding is that the agreement in terms of price can be modified downwards should bmir and/or WW not be sold, the reason for the reduction is that on buying the whole of bmi group IAG will have to take on all liabilities for bmir and/WW and IAG do not require these units, in simple terms they don't fit and they would then have the task and costs of selling or closing these units.
Were this to pass it all gets a bit messy to say the least! remember that BA as part of the IAG group operate 737 from LGW. TUPE rules and the fact that BA will need far more pilots than the sum of BA & BMI due to a net increase of long haul slots requiring more crews per aircraft than short haul and hiring and firing at the same time is never clean.
My own personal view is that the chances of regional being sold now is no better than 50/50 and it's prospects outside of its feeder work for bmi/SN/LH are bleak with fuel hungry/low seat count aircraft and a wage bill per pilot higher than say Eastern or Flybe.
I still think WW will find a new home given the reported 5+ suitors but like bmir I suspect the deal may not be completed prior to the EU approval on he 16th of March but I think a binding agreement may be in place by then. At some stage the buyer will have to meet the unions and staff reps at which point the who will no doubt leak on to these pages!
The who? Is probably the best kept secret ever in bmi history
IAG have agreed to purchase 100% of the bmi group for approx £170m that price assumes that both bmir & WW would have been sold or at least in contract to be sold prior to completion of the share purchase of bmi.
My understanding is that the agreement in terms of price can be modified downwards should bmir and/or WW not be sold, the reason for the reduction is that on buying the whole of bmi group IAG will have to take on all liabilities for bmir and/WW and IAG do not require these units, in simple terms they don't fit and they would then have the task and costs of selling or closing these units.
Were this to pass it all gets a bit messy to say the least! remember that BA as part of the IAG group operate 737 from LGW. TUPE rules and the fact that BA will need far more pilots than the sum of BA & BMI due to a net increase of long haul slots requiring more crews per aircraft than short haul and hiring and firing at the same time is never clean.
My own personal view is that the chances of regional being sold now is no better than 50/50 and it's prospects outside of its feeder work for bmi/SN/LH are bleak with fuel hungry/low seat count aircraft and a wage bill per pilot higher than say Eastern or Flybe.
I still think WW will find a new home given the reported 5+ suitors but like bmir I suspect the deal may not be completed prior to the EU approval on he 16th of March but I think a binding agreement may be in place by then. At some stage the buyer will have to meet the unions and staff reps at which point the who will no doubt leak on to these pages!
The who? Is probably the best kept secret ever in bmi history
Join Date: Jan 2012
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It isn't BA who are buying!
Exactly what source believes that there has to be integration with BA?
It is IAG who are buying, BA is just one of their brands: there does not exist any entitlement to integrate with BA any more so than exists with Iberia.
The future or Baby and Regional is in the hands of DLH and IAG, not BA.
It is IAG who are buying, BA is just one of their brands: there does not exist any entitlement to integrate with BA any more so than exists with Iberia.
The future or Baby and Regional is in the hands of DLH and IAG, not BA.
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Montezuma
Sources
IAG have already stated publicly that they intend to integrate bmi into BA.
IAG have agreed to buy 100% of the bmi group, bmibaby and bmi regional are wholly owned by bmi, it is for this reason that Willi Walsh has stated that the agreed price would be substantially reduced (£60m+) if WW and bmir are not sold prior to the share transaction completion expected end of Q1
WW & bmir are for now in the hands of DLH but that will become IAG on sale completion if they are not sold before hand.
IAG have already stated publicly that they intend to integrate bmi into BA.
IAG have agreed to buy 100% of the bmi group, bmibaby and bmi regional are wholly owned by bmi, it is for this reason that Willi Walsh has stated that the agreed price would be substantially reduced (£60m+) if WW and bmir are not sold prior to the share transaction completion expected end of Q1
WW & bmir are for now in the hands of DLH but that will become IAG on sale completion if they are not sold before hand.
Join Date: Jul 2003
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"It isn't BA who are buying!" really?
So why is there a senior BA guy doing a talk at an upcoming conference the title of which is "What will happen when BA buys BMI?"
Let's not be naive here....
So why is there a senior BA guy doing a talk at an upcoming conference the title of which is "What will happen when BA buys BMI?"
Let's not be naive here....
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Tartin, IAG have submitted the MERGER proposal to the European regulators with a view to merging BMI with one of the airlines they also own...BA.
So while the speaker from BA is convinced they are taking over BMI it appears that the group who owns BA and also the European commission both think differently?
So while the speaker from BA is convinced they are taking over BMI it appears that the group who owns BA and also the European commission both think differently?
Join Date: May 2004
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Conference
Tartin - Considering everyone in BA has been told BMI remain a competitor it seems unlikely anyone from BA would be daft enough to do this at a conference.
Would you care to name the person and conference or is this just a rumour?
Would you care to name the person and conference or is this just a rumour?
This is all standard pre merger / takeover stuff. IAG needs to cover itself against the possibility that the EU unexpectedly either blocks the transaction or imposes sufficiently stringent conditions as to effectively block it. Furthermore any kind of co-operation at the moment between bmi and IAG may be viewed as being a cartel or a breach of competition rules - hardly welcome when competition authorities are watching all parties involved extra carefully at the moment. The obvious solution is for IAG to go out of its way to emphasise to staff the importance of treating bmi as a competitor. That way if someone from BA does something ill advised, IAG can say it wa just a rogue member of staff who will be sent for disciplinary action.
In the UK, while legally different entities, BA *is* IAG, and IAG *is* BA effectively. bmi is not big in Spain and while there might be the odd cabin crew with a Spanish spouse who wants to transfer to Madrid this will be an exception. If the transaction goes through bmi mainline flight operations and back office will be merged into BA. bmi as a legal entity may however survive for a lot longer. The costs of maintaining bmi as a separate brand are just too high to do anything else - there is little emotional attachment amongs the UK public to seeing bmi as the UK's sole national flag carrier, being bought up by evil forsigners unlike as might have happened with KLM, Swiss or Austrian - this will be more akin to American Airlines buying TWA - once the legal side had completsd the TWA logo disappeared quickly.
Suppose someone from BA gives a presentation entitled "What will happen if IAG buys bmi?" Substantially the same subject with the same content, everyone in IAG remains on message, and the lawyers and competition authorities are happy.
In the UK, while legally different entities, BA *is* IAG, and IAG *is* BA effectively. bmi is not big in Spain and while there might be the odd cabin crew with a Spanish spouse who wants to transfer to Madrid this will be an exception. If the transaction goes through bmi mainline flight operations and back office will be merged into BA. bmi as a legal entity may however survive for a lot longer. The costs of maintaining bmi as a separate brand are just too high to do anything else - there is little emotional attachment amongs the UK public to seeing bmi as the UK's sole national flag carrier, being bought up by evil forsigners unlike as might have happened with KLM, Swiss or Austrian - this will be more akin to American Airlines buying TWA - once the legal side had completsd the TWA logo disappeared quickly.
Suppose someone from BA gives a presentation entitled "What will happen if IAG buys bmi?" Substantially the same subject with the same content, everyone in IAG remains on message, and the lawyers and competition authorities are happy.
Last edited by davidjohnson6; 18th Feb 2012 at 15:36.
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...
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 Feb 2012 at 16:19.