BMed is poised for a change of ownership that could result in a £30 million cash injection for the airline.
Its directors are in talks with a UK-based group of investors that includes a subsidiary of one of Lebanon’s most prominent business families, the Mikatis. The group is likely to take a 90% stake.
The carrier, a franchise partner of British Airways that flies under the BA brand, operates to 16 destinations from Heathrow, including Beirut.
It is currently in the hands of a number of shareholders – the biggest being Guernsey-registered trust Guernoy, which holds 49%. Former chairman Lord Hesketh also retains a 19% stake.
Any deal would need the backing of BA and approval of the Civil Aviation Authority. The CAA could rescind BMed’s international traffic rights if it passed into foreign ownership.