International Airlines Group (IAG), the UK-based parent company of British Airways, has announced the sale of its subsidiary, BMI Regional airline, to Sector Aviation Holdings, a Scotland-based holding company.
The sale was finalised for £8 million, and the transaction includes 18 of the airline’s Embraer jets that fly to 14 destinations in the UK and Northern Europe from UK regional airports, including Aberdeen, Edinburgh, Glasgow, Leeds Bradford, Manchester and East Midlands.
IAG’s chief executive officer, Willie Walsh, went on record as saying, ‘This deal provides a future for BMI Regional and should secure around 330 jobs.’
IAG had acquired BMI Regional, a subsidiary of BMI, in April 2012 as part of its acquisition of the airline from Lufthansa, a Germany-based airline. Since then the company has called a halt to the operation of bmibaby, another BMI subsidiary, and has commenced the process of integrating BMI with British Airways, the company’s mainstream airline.
In 2011 the airline was awarded the honour of being ‘the UK’s most punctual airline’, for the seventh successive year, by flightontime.info, a company that tracks flight delays at UK airports. Currently, the airline is offering a choice of business and economy fares, complimentary in-flight food and drink,
lounge access to Business Class and Diamond Club members, and a charter service.
The sale remains conditional upon the approval of the UK’s Civil Aviation Authority, but is expected to complete within two weeks.
Sector Aviation is a consortium of businessmen including the team previously known as Granite Aviation, and Stephen and Peter bond who are also investors in Loganair.
