Flybe to buy BMI?
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Firestorm
Why don't you take just a moment to consider what you've written before you press the submit button
Whilst it might be highly enjoyable to throw speculation around from the safety of stable employment you are adding to the already considerable concerns of pilots who's futures are by no means secure. We await the outcome of DL's deliberations on the way forward for the bmi group.
Having survived 2 redundancy episodes with bmi I can assure you it's not a fun time.
Perhaps I should give you some grace here - perhaps your posting is rooted in your own job insecurity. Whatever - just think a little deeper.
Why don't you take just a moment to consider what you've written before you press the submit button
Whilst it might be highly enjoyable to throw speculation around from the safety of stable employment you are adding to the already considerable concerns of pilots who's futures are by no means secure. We await the outcome of DL's deliberations on the way forward for the bmi group.
Having survived 2 redundancy episodes with bmi I can assure you it's not a fun time.
Perhaps I should give you some grace here - perhaps your posting is rooted in your own job insecurity. Whatever - just think a little deeper.
Last edited by Looker; 1st Oct 2009 at 09:26.
PPRuNe Knight in Shining Armour
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In a recent conversation with the ones that supposedly know, and I'm paraphrasing, but, if BMI Regional stopped flying and Flybe won all of the pax from all of the competing routes, then it would constitute a increase of pax of between 25% and 30%. Now that's a big difference in todays market. Surely that's got to be Flybe's primary target.
Flybe certainly don't want any more 145's, had enough trouble getting rid of the ex BACon ones!
Flybe certainly don't want any more 145's, had enough trouble getting rid of the ex BACon ones!
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From Lufthansa to Buy Remaining 20% Stake in BMI From SAS (Update1) - Bloomberg.com
It would seem from the above that no decision has been made. Why enter into a deal with SAS that is just going to cost you money? Indeed why buy SAS out if you are planning to pass bmi on?
I'm sure Flybe are considering their options in the same way DLH are. At the moment that is as far as it goes.
“Should Lufthansa decide, on the background of its strategic analysis, to sell BMI completely or parts of the company SAS will under certain conditions receive an additional payment, within the next two years,” Lufthansa said.
I'm sure Flybe are considering their options in the same way DLH are. At the moment that is as far as it goes.
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01/10/2009 SAS sells 20% in BMI to Lufthansa
Story SAS has held a 20% stake in the UK based British Midland PLC ("bmi"). According to the Core SAS strategy with focus on the Nordic home market this stake has been set out for divestment. LHBD Holding Ltd. ("LHBD") holds 80% of the shares in bmi since July 1 2009. LHBD is a UK-based company, in which Deutsche Lufthansa AG ("Lufthansa") holds a 35% stake.
On September 30 the SAS Group ("SAS") has reached an agreement with Lufthansa and LHBD to sell SAS 20% stake in bmi to LHBD. Under the terms of the agreement LHBD will acquire the 20 % stake for approximately GBP 19 million. Furthermore Deutsche Lufthansa AG will pay SAS another GBP 19 million for the cancellation of its rights resulting from the shareholder agreement dated 1999. In total SAS will receive a cash consideration of GBP 38m resulting in a capital gain of approx SEK 420m.
SAS will receive an additional payment from Lufthansa if further value in bmi can be realized within a period limited to 2 years.
Following the transaction, SAS will remain with a maximum exposure of GBP 19m within a period limited to 2 years, in case of material adverse financial development of bmi and lack of financial support from Lufthansa.
SAS has been a shareholder in bmi since 1989 and SAS will continue to cooperate with bmi through its Star Alliance membership.
Story SAS has held a 20% stake in the UK based British Midland PLC ("bmi"). According to the Core SAS strategy with focus on the Nordic home market this stake has been set out for divestment. LHBD Holding Ltd. ("LHBD") holds 80% of the shares in bmi since July 1 2009. LHBD is a UK-based company, in which Deutsche Lufthansa AG ("Lufthansa") holds a 35% stake.
On September 30 the SAS Group ("SAS") has reached an agreement with Lufthansa and LHBD to sell SAS 20% stake in bmi to LHBD. Under the terms of the agreement LHBD will acquire the 20 % stake for approximately GBP 19 million. Furthermore Deutsche Lufthansa AG will pay SAS another GBP 19 million for the cancellation of its rights resulting from the shareholder agreement dated 1999. In total SAS will receive a cash consideration of GBP 38m resulting in a capital gain of approx SEK 420m.
SAS will receive an additional payment from Lufthansa if further value in bmi can be realized within a period limited to 2 years.
Following the transaction, SAS will remain with a maximum exposure of GBP 19m within a period limited to 2 years, in case of material adverse financial development of bmi and lack of financial support from Lufthansa.
SAS has been a shareholder in bmi since 1989 and SAS will continue to cooperate with bmi through its Star Alliance membership.
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Perhaps, and this is thinking way outside of the box, the reason for all this talk of selling bmi was to devalue the company so that a sale of the rest of bmi by SAS would be the lowest that DLH needed to pay. Why on earth would they want to buy the rest if they were after a quick sale! No make-ty no sense amigos!
Other companies, FLybe, BA, Virgin may not have wanted BMI if SAS still owned parts and had a say in the ops.
NOW BMI can be (sold) owned by one particular company without outside interests or comments from major shareholders!!
NOW BMI can be (sold) owned by one particular company without outside interests or comments from major shareholders!!
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You don't have to talk a company down when the losses are put up in lights.
You bat for the company you work for, as you know you have more chance of staying in work
if the opposition goes down.
You bat for the company you work for, as you know you have more chance of staying in work
if the opposition goes down.
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You were luckier than I then Looker. I was particularly badly treated by BMI Baby at the last round of redundancies so hold no candle for the company or the management. The post was not rooted in job insecurity as I don't at present have one.
