bmiBaby threads (merged)
Join Date: Jul 1999
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Japan anyone?
I see that RishworthAviation are recruiting for Skymark airlines based Narita. B737NG with or without type rating and with potential for A330 and A380 in 2013.
Wikipedia has a bit of info on them.
Wikipedia has a bit of info on them.
Join Date: Aug 2007
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I do hope that I am wrong but I believe the proposed deal for bmibaby will fall apart if the identity of the bidder becomes known before completion. I hope there is a Plan B lurking in the background because what IAG has planned doesn't look pleasant.
Join Date: Mar 2012
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News Just In
bmi has signed another term sheet for the sale of bmibaby to an EU based airline group. This potential new owner, which has operations in several countries across Europe, would acquire 100 per cent of the shares of bmibaby. This would include the aircraft fleet, the existing route network and the continued employment of the existing staff.
This non exclusive term sheet is in addition to the term sheet already signed with a UK based company in January 2012. bmi plans to sign a definitive sale purchase agreement with one of the parties in the next few weeks. The completion of the transaction would occur shortly after this, subject to receiving all the necessary approvals.
The bmibaby brand name would continue to be used for an interim period and bmibaby’s head office would remain in the East Midlands with the airline continuing to operate from its existing bases in the UK.
Wolfgang Prock-Schauer, chief executive officer, bmi, said:
“bmibaby has attracted a great level of interest and our discussions open up great future prospects for the airline and its employees.
“bmibaby is now seeing its highest ever levels of customer satisfaction, is achieving great on time performance and has an extremely dedicated and passionate team. The new owner would have the chance to build on this success providing a positive future for the business.”
bmi and the buyer have agreed not to disclose any financial aspects of the planned transaction.
This non exclusive term sheet is in addition to the term sheet already signed with a UK based company in January 2012. bmi plans to sign a definitive sale purchase agreement with one of the parties in the next few weeks. The completion of the transaction would occur shortly after this, subject to receiving all the necessary approvals.
The bmibaby brand name would continue to be used for an interim period and bmibaby’s head office would remain in the East Midlands with the airline continuing to operate from its existing bases in the UK.
Wolfgang Prock-Schauer, chief executive officer, bmi, said:
“bmibaby has attracted a great level of interest and our discussions open up great future prospects for the airline and its employees.
“bmibaby is now seeing its highest ever levels of customer satisfaction, is achieving great on time performance and has an extremely dedicated and passionate team. The new owner would have the chance to build on this success providing a positive future for the business.”
bmi and the buyer have agreed not to disclose any financial aspects of the planned transaction.
Join Date: Apr 2004
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Wrong about what? So far you have told us the following:
I have not made any definitive statements about who will be the eventual buyer. Some of the speculation makes commercial sense, some absolutely not.
This sale saga has been one of the more painful and drawn out commercial sales I have seen in a longtime. There is a lack of information coming from management about what is happening, and what is likely to happen to peoples jobs. It is unsettling and is having a detrimental effect on morale, in both Baby and Regional.
Whilst i would not rule out further slot sales by bmi (to the highest bidder) in 2012 i think a take over of bmi by the IAG group remains very unlikely
BA won't be buying bmi
Jet2 won't be buying bmibaby
Baby is in BHD to stay
Jet2 won't be buying bmibaby
Baby is in BHD to stay
This sale saga has been one of the more painful and drawn out commercial sales I have seen in a longtime. There is a lack of information coming from management about what is happening, and what is likely to happen to peoples jobs. It is unsettling and is having a detrimental effect on morale, in both Baby and Regional.
Join Date: Jan 2007
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Inkjet,
This is now a complete farce, and I feel so sorry that the poor employees have to hang on and on for what...yup ...another non binding term sheet
!!!!
Willie Walsh on behalf of BA, and therefore IAG stated last week that Baby will be taken over by them and "restructured" at the same time IAG take over BMI, if LH cannot sign a buyer by that time for Baby.
That was expected to be mid march, pending no referrals to monopolies commission.So therefore LH have to then to actually find someone who wants to buy... not just sign a non binding sheet.
I am really hoping for the employees this can be achieved before this date.
Nigel
This is now a complete farce, and I feel so sorry that the poor employees have to hang on and on for what...yup ...another non binding term sheet
!!!!Willie Walsh on behalf of BA, and therefore IAG stated last week that Baby will be taken over by them and "restructured" at the same time IAG take over BMI, if LH cannot sign a buyer by that time for Baby.
That was expected to be mid march, pending no referrals to monopolies commission.So therefore LH have to then to actually find someone who wants to buy... not just sign a non binding sheet.
I am really hoping for the employees this can be achieved before this date.
Nigel
Join Date: Apr 2004
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Buying selling it makes no difference taking on liabilities is the same as buying, but clearly some on here have no concept of that.
If we are lacking in understanding, please do teach us. I am willing to learn...
Join Date: Apr 2004
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Inkjet,
What you are saying is what I said a few months ago. No assets and large liabilities don't make a very attractive deal. Couple that to a loss making business unit and it becomes even less so. The dowry that would need to be paid to carry the liabilities and losses will have to be huge to make it viable from a purchasers point of view.
I hope that baby finds a benevolent investor, but now that the OFT have given the green light to the Mainline sale, time is going to be of the essence and I only hope that things move forward with the array of interested parties very quickly.
What you are saying is what I said a few months ago. No assets and large liabilities don't make a very attractive deal. Couple that to a loss making business unit and it becomes even less so. The dowry that would need to be paid to carry the liabilities and losses will have to be huge to make it viable from a purchasers point of view.
I hope that baby finds a benevolent investor, but now that the OFT have given the green light to the Mainline sale, time is going to be of the essence and I only hope that things move forward with the array of interested parties very quickly.
Join Date: Dec 2003
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According to a Travelmole article:
"The airline announced that it had two term sheets signed for the sale - one to an EU-based airline group, which would acquire 100% of the shares including aircraft, existing routes and employment of existing staff and one to a UK based company"
Travelmole
"The airline announced that it had two term sheets signed for the sale - one to an EU-based airline group, which would acquire 100% of the shares including aircraft, existing routes and employment of existing staff and one to a UK based company"
Travelmole
