IAG Completes Sale of bmi Regional

International Airlines Group (IAG), the UK-based parent company of British Airways, has completed the sale of its subsidiary, bmi Regional airline, to Sector Aviation Holdings, a Scotland-based holding company.

The completion of the sale of the regional division of British Midland International (bmi), a UK-based airline, to the UK consortium of investors will allow the bmi Regional brand to continue as an independent airline.

Ian Woodley, the chairman of bmi Regional, said, ‘We are continuing with the existing route network while BA will provide support during the transitional phase of the operation and we will be working closely with them to ensure as seamless a transfer as possible. I would also like to reassure our many customers, who will have naturally been wondering what the future holds during what has been a very uncertain period, that it is very much business as usual including the retention of the bmi brand and existing services. This is a great company with fantastic people and my colleagues and I are immensely proud to have concluded the acquisition of an organisation that is held in such high regard throughout the United Kingdom and beyond.’

The bmi Regional airline will be operating out of its headquarters at East Midlands Airport, which will be providing around 40 new jobs to the local economy, and it will also be retaining its operating centre in Scotland.

Commenting on the sale, Ken O’Toole, the chief commercial officer of MAG, the owner of East Midlands Airport, said, ‘bmi Regional recognises the importance of global connectivity and, in turn, the benefits this brings to businesses in the region. We are now looking forward to working closely with the new owners, to build on the strong operation we already have at East Midlands Airport and develop the network further.’