PPRuNe Forums - bmiBaby threads (merged)

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Giblets,

Think the big announcement was that they were turning a term sheet over and playing hangman on it :ugh:

Nigel

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.

IAG has already plans of what to do with bmibaby if it is not sold by the time the bmi sale is completed. Have a look at this...

Bmi to be

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.

Best of luck to all concerned, I am a victim of a previous "Willie Walsh integration" and it wasn't nice!

Quote:

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.

Let the speculation begin!

Inkjet,

are you still willing to make the £100 bet?

On reflection no, I'll make it £200 will you match me? If your wrong?

That'll be ASL then.

Wrong about what? So far you have told us the following:

Quote:

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

Quote:

BA won't be buying bmi

Jet2 won't be buying bmibaby

Baby is in BHD to stay

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.

Inkjet -

Except Baby are not selling, it's Lufthansa selling, and they just want rid, as cleanly and cheaply as possible.

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 :eek: !!!!

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

Oh yeah of little faith!!

Buying selling it makes no difference taking on liabilities is the same as buying, but clearly some on here have no concept of that.

Quote:

Buying selling it makes no difference taking on liabilities is the same as buying, but clearly some on here have no concept of that.

Can you try that again in English?

If we are lacking in understanding, please do teach us. I am willing to learn...

Someone, not so many posts ago insisted asset value wasn't important: so what does baby have by way of potential?

Being as there are no assets.

Guys guys, bicker not.

All will be clear............. In a couple of weeks!:rolleyes:

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.

Heard WizzAir mentioned this morning :uhoh:

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

Funnily, I heard AF/KL from someone this morning.