IAG sells bmi Regional for £8m
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International Airlines Group (IAG) has sold bmi Regional for £8 million.
The company, parent to British Airways, Iberia and bmi, has sold the airline to Sector Aviation Holdings conditional to CAA approval. SAH is a consortium of businessmen led by Ian Woodley with funding from Stephen and Peter Bond, who are also investors in Loganair. It is thought the ownership can be transferred to SAH within two weeks.
“This deal provides a future for bmi Regional and should secure around 330 jobs,” said Willie Walsh, chief executive at IAG.
bmi Regional operates 18 Embraer jets on services throughout the UK and Northern Europe.
While British Airways announced it is to integrate bmi flights into its schedule this summer, bmibaby has announced it could close in September.
