6 FEBRUARY 2012
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Lufthansa has confirmed that terms for the sale of bmibaby have been agreed. Whoever the mystery buyer is has not been announced, opening much speculation within the industry. The intended sale comprises 100% of the shares of low-cost subsidiary of bmi, which itself has been sold to British Airways, subject to Competition Commission approval. The bmibaby deal is non-exclusive and includes all assets and liabilities used in the bmibaby business including the 14-strong Boeing 737 Classic fleet, the existing route network and the continued employment of the existing staff.
It is envisaged that the legally binding transaction documents will be signed in the first quarter of 2012 and the completion of the transaction would occur shortly after this, subject to regulatory approval.
The new potential owner would continue to use the existing brand name for an interim period. The currently published summer 2012 schedule would continue.
bmibaby’s head office will remain in the Midlands and the airline continues to operate from its three existing bases in the UK: East Midlands, Birmingham and Belfast City.
bmi and the buyer have agreed not to disclose any financial aspects of the planned transaction. www.bmibaby.com
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