Flybe in talks to buy bmi regional units
30.11.08
Flybe is in talks to buy bmi subsidiaries bmi Regional and bmibaby, the Mail on Sunday reports. The two airlines are not core to the strategy of bmi's new owner, Lufthansa, the newspaper adds.
Lufthansa agreed to take over bmi last month, subject to regulatory clearance, but the German airline has indicated it is more interested in bmi's long-haul routes and valuable Heathrow slots than the two subsidiaries.
bmi Regional specialises in domestic flights, while bmibaby operates low-cost flights to European destinations from UK regional airports. bmi regional operates 17 routes, whilst bmibaby flies 72 routes. Both would appear to fit in well with Flybe’s strategy of focusing on low cost flights form regional airports.
According to the newspaper, Flybe is carrying out due diligence on the divisions that generate around 40 percent of bmi's turnover and could be worth up to £150 million, although this would appear quite high in the current market.
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