Bmibaby
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But to be honest, Stobarts doesn't have the cash to throw in to Baby that it desperately needs.
Southend is only getting all this development done through some serious external finance. (£108m of it to be precise). They don't have good cash to be throwing after bad.
Sorry but for me, it isn't Stobarts.
Southend is only getting all this development done through some serious external finance. (£108m of it to be precise). They don't have good cash to be throwing after bad.
Sorry but for me, it isn't Stobarts.
Specially for Flying Wild
Update from Wolfgang Prock-Schauer regarding bmibaby
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Dear colleagues,
As you are aware we have been talking to various parties regarding the sale of bmibaby. We have now signed a term sheet for the sale of bmibaby to a UK based company. Below is the press release that will be distributed today. As the release states, the term sheet is non-exclusive and enables us to continue discussions with other interested parties. We are confident that this is a positive step towards finding a good future for bmibaby.
Regarding bmi Regional, as previously communicated, the sale is subject to certain pre-conditions being fulfilled. As soon as more information is available we will provide you with an update.
The process of the proposed sale of British Midland Ltd to IAG continues as outlined in my previous communication. There is no further update at this time but please be assured that we are giving you as much information as we can and we will continue to keep you updated.
With best regards,
Wolfgang Prock-Schauer
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Dear colleagues,
As you are aware we have been talking to various parties regarding the sale of bmibaby. We have now signed a term sheet for the sale of bmibaby to a UK based company. Below is the press release that will be distributed today. As the release states, the term sheet is non-exclusive and enables us to continue discussions with other interested parties. We are confident that this is a positive step towards finding a good future for bmibaby.
Regarding bmi Regional, as previously communicated, the sale is subject to certain pre-conditions being fulfilled. As soon as more information is available we will provide you with an update.
The process of the proposed sale of British Midland Ltd to IAG continues as outlined in my previous communication. There is no further update at this time but please be assured that we are giving you as much information as we can and we will continue to keep you updated.
With best regards,
Wolfgang Prock-Schauer
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In today's Leicester Mercury
bmibaby airline, Castle Donington, airport, leicestershire | This is Leicestershire
bmibaby airline, Castle Donington, airport, leicestershire | This is Leicestershire
Low-cost airlines easyJet and Flybe have declined to rule themselves out as the mystery buyer of rival bmibaby.
It comes after another rival, Jet2, yesterday told the Leicester Mercury it had not bought the carrier from Castle Donington airline group BMI.
Many analysts had suggested the Leeds-based operator was the likely buyer after BMI announced on Wednesday it had completed a preliminary deal to sell its budget subsidiary to a UK business.
Luton-based Monarch has also denied being the buyer.
BMI will not name the buyer or provide any more details about the deal.
When asked yesterday if they had bought bmibaby, spokeswomen for both Luton-based easyJet and Exeter-based Flybe would neither confirm or deny the suggestion.
It comes after another rival, Jet2, yesterday told the Leicester Mercury it had not bought the carrier from Castle Donington airline group BMI.
Many analysts had suggested the Leeds-based operator was the likely buyer after BMI announced on Wednesday it had completed a preliminary deal to sell its budget subsidiary to a UK business.
Luton-based Monarch has also denied being the buyer.
BMI will not name the buyer or provide any more details about the deal.
When asked yesterday if they had bought bmibaby, spokeswomen for both Luton-based easyJet and Exeter-based Flybe would neither confirm or deny the suggestion.
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Dart Group were spoken to in December but it was not pursued by either party. Staff don't know much more than the interested parties DO have airline experience (but not sure if it was UK or not) and one in particular was emphatic that their identity was to remain obscured. To be clear I do not know who it is but I have a better idea who it isn't. New type rating is suggested as likely.
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ETOPS:
Thanks, had already seen that. What I was getting at in previous posts is that nobody has said they are actually buying baby yet. Either party could still part ways after the term sheet has been signed. Having signed the term sheet allows for due diligence to be conducted on baby's books.
Thanks, had already seen that. What I was getting at in previous posts is that nobody has said they are actually buying baby yet. Either party could still part ways after the term sheet has been signed. Having signed the term sheet allows for due diligence to be conducted on baby's books.
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Who cares who it is, one thing is for sure they can't be a bad as BMI's mis- management/lack of investment over the last 10 years or LH's complete lack of interest in Baby since they took over.
The purchase of Baby is a good thing. If it doesn't last under new owners then it would have never lasted anyway under LH's rule. The future is bright if it all goes through for baby!
Put a months salary it wont be Jet2 though
The purchase of Baby is a good thing. If it doesn't last under new owners then it would have never lasted anyway under LH's rule. The future is bright if it all goes through for baby!
Put a months salary it wont be Jet2 though
It is most unlikely to be Jet2. If Lufthansa have made this announcement then Jet2 (well, Dart Group PLC) would at best be in breach of good practice and at worst potentially in breach of market regulations if it failed to make some corresponding statement of its own.
The clues are in the Lufthansa statement. It has not granted exclusivity to the bmibaby buyer which means either a) it's not happy with the deal or b) that it isn't confident that the buyer can actually complete, or c) both. Best guess is that if this is a UK organisation, it's the management team who haven't yet got funding to support their buyout.
The clues are in the Lufthansa statement. It has not granted exclusivity to the bmibaby buyer which means either a) it's not happy with the deal or b) that it isn't confident that the buyer can actually complete, or c) both. Best guess is that if this is a UK organisation, it's the management team who haven't yet got funding to support their buyout.
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Well Jet2 have just announced they are to go self handling as East Midlands, something that is not sustainable with just three based aircraft. Who ever gets hold of bmi baby need to act quick as Jet2 have big plans for EMA and with 8 new aircraft coming into the fleet over the next 12 months, I'm sure this time next year there may be more red than baby blue at EMA. BabYy's about to loose it's core and vital market unless something is announced soon so the major turnaround can begin.
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Well Jet2 have just announced they are to go self handling as East Midlands, something that is not sustainable with just three based aircraft. Who ever gets hold of bmi baby need to act quick as Jet2 have big plans for EMA and with 8 new aircraft coming into the fleet over the next 12 months, I'm sure this time next year there may be more red than baby blue at EMA. BabYy's about to loose it's core and vital market unless something is announced soon so the major turnaround can begin.
1)Where have you heard about Jet2 going self handling at EMA?
2)Where have you heard about big plans for EMA?
Im sure that there will be more red than baby blue at EMA due to baby scaling back, but I cant genuinely see big expansion anytime soon