B.m.i. Announcement Next Week!!!
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bmi regional is already a Ltd Company. British Midland Regional Ltd trading as bmi regional. It has an AOC and a complete stand alone management structure based in Aberdeen. It leases aircraft and crews from bmi and operates routes for bmi. It also buys certain services such as maintenance and payroll from bmi. I'm no corporate expert but I don't think a company of bmir size that does not actually own a lot of assets could be floated, (assuming you mean a public stock offer). However, it could be sold tomorrow if the holding company wanted and a buyer existed.
It's actually a strong company with a record of growth and survival. It might fetch a good price but not in the current market. Still got a few equipment problems to sort out as well. Anyone got a few million they want to invest? Might get a bargain now and make a killing in a few years time.
It's bmi baby that has a lot to do before it can be sold. Surely that is where the dramatic changes will come if there are any. Personally I'd bet on a bit of a damp squib.
It's actually a strong company with a record of growth and survival. It might fetch a good price but not in the current market. Still got a few equipment problems to sort out as well. Anyone got a few million they want to invest? Might get a bargain now and make a killing in a few years time.
It's bmi baby that has a lot to do before it can be sold. Surely that is where the dramatic changes will come if there are any. Personally I'd bet on a bit of a damp squib.
Last edited by Bash; 21st Jul 2002 at 09:49.
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This thread was started last week, and called "bmi announcement next week", well it is next week now and I have been reliably informed that the big announcement, will now be made next week. So shouldn't the name of the thread be changed to "bmi big announcement in the next fortnight, or whenever"
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I have it on good authority that an announcement will be made to change BMIs name to BMI and not BMI british midland as it is currently known. The British Midland is to be dropped. Simple as that.......................
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Phd - could be you that's a little confused here...... Don't mistake the term "base" for "head orifice". If indeed they are referring to BMIR They do have a base in GLA..... The orifice remains in ABZ.
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Might the announcement be to do with the cabin crew changes currently being pushed through?
Just got this press release from the T&G on behalf of BASSA.
PR02/305
For immediate release - Wednesday 24th July 2002
Newsdesks: transport and industrial correspondents
Strike threat at UK's second largest airline
BMI, formerly British Midland Airways, potentially faces a massive
disruption to its schedules if its cabin crew vote in favour of industrial action. The British Airlines Stewards & Stewardesses Association (BASSA) is now conducting a consultative ballot, the first stage in the process, as tension between its members and the company's management reaches an all-time high. A branch of BASSA was created at the airline a year ago and has grown to become the largest cabin crew union at BMI. Despite this the company has refused to recognise the union and threatened disciplinary action to anyone recruiting for BASSA during working time. This has only served to stimulate membership of BASSA, which is part of the Transport & General Workers' Union, as crew have fought back against a background of a sustained attack
on their working conditions, increased duty hours and harsh treatment by managers.
"Cabin Crew have simply had enough," said a BASSA spokeswoman. "They expect their choice of union to be recognised and respected in the same way as our sister branches at British Airways and other airlines."
The latest plan by BMI to axe its top flying rank of Flight Service Manager (FSM) has brought matters to a head. The company claims that there are new jobs available as well as other opportunities. "BMI is being totally disingenuous when it talks about new jobs, as none have been remotely suitable for flying staff and nor are they likely to be. What is more, the Company has continued to recruit brand new cabin crew members," said BASSA.
BASSA has made it clear that it will strenuously oppose any compulsory redundancies of senior crew. "We expect the company to do the honourable thing by providing a Flight Supervisor position with ring-fenced pay or compensation to any FSMs who lose their jobs in this restructuring. The seniority levels at bmi are already very low compared to other airlines and the airline can ill afford to be getting rid of experienced crew who do a
lot to make the skies a safer and more pleasant place to be."
The fate of the FSMs is expected to be known by the end of the week. The ballot results will not be counted until the beginning of August. If members vote in favour, BASSA will apply for authority to hold an official industrial action ballot. If industrial action does go ahead, the airline's main bases of London, Manchester and East Midlands could be affected during the busy summer timetable as well as shorthaul and prestigious longhaul flights to the United States.
"It is sad to see the situation deteriorating in this way. Management seem unable to understand the anger and depth of feeling amongst the crew at BMI," concluded the BASSA spokesman. "Our demands are not unreasonable. We are simply calling for the recognition we deserve as the majority cabin crew
union and for BMI to guarantee flying jobs to its senior crew hreatened by the restructuring process. We are still hoping for a negotiated settlement before any further action becomes necessary."
ENDS
Notes to Editors: Flight Service Manager positions are to be replaced by a lesser number of Cabin Service Performance Manager posts on 1 August, displacing crew who have flown for BMI for many years - effectively ending their flying careers. BMI is a privately owned UK airline with 40% foreign ownership being split between Lufthansa and SAS.
Just got this press release from the T&G on behalf of BASSA.
PR02/305
For immediate release - Wednesday 24th July 2002
Newsdesks: transport and industrial correspondents
Strike threat at UK's second largest airline
BMI, formerly British Midland Airways, potentially faces a massive
disruption to its schedules if its cabin crew vote in favour of industrial action. The British Airlines Stewards & Stewardesses Association (BASSA) is now conducting a consultative ballot, the first stage in the process, as tension between its members and the company's management reaches an all-time high. A branch of BASSA was created at the airline a year ago and has grown to become the largest cabin crew union at BMI. Despite this the company has refused to recognise the union and threatened disciplinary action to anyone recruiting for BASSA during working time. This has only served to stimulate membership of BASSA, which is part of the Transport & General Workers' Union, as crew have fought back against a background of a sustained attack
on their working conditions, increased duty hours and harsh treatment by managers.
"Cabin Crew have simply had enough," said a BASSA spokeswoman. "They expect their choice of union to be recognised and respected in the same way as our sister branches at British Airways and other airlines."
The latest plan by BMI to axe its top flying rank of Flight Service Manager (FSM) has brought matters to a head. The company claims that there are new jobs available as well as other opportunities. "BMI is being totally disingenuous when it talks about new jobs, as none have been remotely suitable for flying staff and nor are they likely to be. What is more, the Company has continued to recruit brand new cabin crew members," said BASSA.
BASSA has made it clear that it will strenuously oppose any compulsory redundancies of senior crew. "We expect the company to do the honourable thing by providing a Flight Supervisor position with ring-fenced pay or compensation to any FSMs who lose their jobs in this restructuring. The seniority levels at bmi are already very low compared to other airlines and the airline can ill afford to be getting rid of experienced crew who do a
lot to make the skies a safer and more pleasant place to be."
The fate of the FSMs is expected to be known by the end of the week. The ballot results will not be counted until the beginning of August. If members vote in favour, BASSA will apply for authority to hold an official industrial action ballot. If industrial action does go ahead, the airline's main bases of London, Manchester and East Midlands could be affected during the busy summer timetable as well as shorthaul and prestigious longhaul flights to the United States.
"It is sad to see the situation deteriorating in this way. Management seem unable to understand the anger and depth of feeling amongst the crew at BMI," concluded the BASSA spokesman. "Our demands are not unreasonable. We are simply calling for the recognition we deserve as the majority cabin crew
union and for BMI to guarantee flying jobs to its senior crew hreatened by the restructuring process. We are still hoping for a negotiated settlement before any further action becomes necessary."
ENDS
Notes to Editors: Flight Service Manager positions are to be replaced by a lesser number of Cabin Service Performance Manager posts on 1 August, displacing crew who have flown for BMI for many years - effectively ending their flying careers. BMI is a privately owned UK airline with 40% foreign ownership being split between Lufthansa and SAS.
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Bash
My dear chap, how can you say that Regional is a strong company with a record of growth? You were instrumental in securing the redunancy of 40 -50 pilots and many cabin crew.
An announcemnet from BMI is probably more to do with Baby out of Cardiff or the sale of mainline to LH.
A big Regional announcement would be if WH actually went on one of his aircraft or Paul got a passport!
My dear chap, how can you say that Regional is a strong company with a record of growth? You were instrumental in securing the redunancy of 40 -50 pilots and many cabin crew.
An announcemnet from BMI is probably more to do with Baby out of Cardiff or the sale of mainline to LH.
A big Regional announcement would be if WH actually went on one of his aircraft or Paul got a passport!
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"B.m.i. Announcement Next Week!!!"............
Now lets see, would that be this week or possibly next week, or the week after next week, or maybe next week after next week?
Now lets see, would that be this week or possibly next week, or the week after next week, or maybe next week after next week?
My bet is on the following:
- Remaining routes from EMA to be handed over to bmi baby (it is no coincidence that baby has already announced service to most of the same destinations from Cardiff, viz EDI, GLA, JER, BFS). This will mean baby gets another four 737s and surplus Airbus capacity will cover the LHR routes to release the 737s to baby.
- Possible order for small Airbuses in the pipeline so that LHR can become all Airbus operation and floated off in the direction of 100% Lufthansa ownership.
- Warning about financial results for this year, which are apparently pretty grim. Yields on LHR services have tumbled after the new pricing policy was introduced and there has not been a significant growth in passenger numbers to offset the yield drop. MAN long-haul continues to lose money (as I think everyone would reasonably expect it to, given that it is only the second year of operation).
- Fokker 100s to be phased out asap.
- Embraer 145s released from East Midlands will move to take over EDI and GLA to CPH (but done properly instead of hacking about with a Fokker 100 double-drop between the two); and will also be used for some modest frequency growth on existing routes from MAN and LBA.
Let's see how much of the above actually comes good in their announcement.
- Remaining routes from EMA to be handed over to bmi baby (it is no coincidence that baby has already announced service to most of the same destinations from Cardiff, viz EDI, GLA, JER, BFS). This will mean baby gets another four 737s and surplus Airbus capacity will cover the LHR routes to release the 737s to baby.
- Possible order for small Airbuses in the pipeline so that LHR can become all Airbus operation and floated off in the direction of 100% Lufthansa ownership.
- Warning about financial results for this year, which are apparently pretty grim. Yields on LHR services have tumbled after the new pricing policy was introduced and there has not been a significant growth in passenger numbers to offset the yield drop. MAN long-haul continues to lose money (as I think everyone would reasonably expect it to, given that it is only the second year of operation).
- Fokker 100s to be phased out asap.
- Embraer 145s released from East Midlands will move to take over EDI and GLA to CPH (but done properly instead of hacking about with a Fokker 100 double-drop between the two); and will also be used for some modest frequency growth on existing routes from MAN and LBA.
Let's see how much of the above actually comes good in their announcement.
