German suitor emerges for Bmibaby

German turnaround specialist Intro Aviation has emerged as an interested party in BMI’s budget airline Bmibaby.

Chief executive Peter Oncken reportedly said: “We have expressed our interest and the whole procedure is now beginning. The books are being opened and we are looking at the business in detail. We will see if it can be restructured.”

A spokesperson for BMI said: “With respect to Bmibaby there are several interested parties and we are in the process of identifying the preferred buyer and aim to conclude a purchase agreement as soon as possible.”

The group said there had also been significant progress in offloading the regional arm.

“Regarding BMI Regional we have concluded an agreement with a UK-based investor group which is subject to certain pre-conditions which are to be fulfilled,” the spokesman said.

The identity of the buyer for the regional arm remains unclear but it is said to have previous links with the business.

British Airways parent International Airlines Group agreed to acquire loss-making BMI from Lufthansa for £172.5 million in December, subject to the sale of the budget and regional offshoots.

Share article

View Comments

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.