German aviation firm looking to buy Bmibaby

Monday, 23rd January 2012

The low-cost subsidiary of BMI is currently owned by German flag-carrier Lufthansa, who is reportedly amid negotiations with Intro Aviation, a German turnaround specialist. The company’s chief executive, Peter Oncken, told reporters this week that Intro had indeed “expressed interest” in Bmibaby and added that preliminary proceedings of a potential sale process were underway.

According to Mr Oncken, Intro is currently examining the UK-based airline to assess the feasibility of a restructuring effort. He said thus far that it seems as if the company will be able to be restructured fairly easily, although problems could arise due to its close tie-up with BMI proper.

Lufthansa spokeswoman Claudia Lange also confirmed that the potential deal was underway but did not offer any further details.

Meanwhile, Bmibaby has said that there is currently more than one potential buyer for the company.

The news follows the recent announcement that IAG, the parent firm of British Airways, had entered an agreement to buy BMI from Lufthansa for £172.5 million. However, the deal must gain regulatory approval amid claims that the acquisition will give IAG too much control of Heathrow’s landing slots by allowing the firm to own more than 50 per cent of available spaces.

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