Bmi Buys Bmed Confirmed
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Feb 5, 2007, 1:07 pm
#47
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This buyout also will eventually give us a good place to start using our gold upgrade certificates.
Whilst there are a few potential downsides to this deal (e.g. making sure that *A partners across the pond feed BMI/BMED with new traffic as BA was before), overall this is very positive news.
Whilst there are a few potential downsides to this deal (e.g. making sure that *A partners across the pond feed BMI/BMED with new traffic as BA was before), overall this is very positive news.
Feb 6, 2007, 5:13 am
#48
Join Date: Feb 2007
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Feb 6, 2007, 6:48 am
#49
Join Date: Sep 2004
Location: Beirut, Lebanon
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I'm thrilled that I will have a second *A option to use out of BEY on a regular basis. I just hope and pray that they keep the roomy business class configuration and not decide to switch it into a "regional" business class (a la LH)... So when can I expect BMI planes to start landing here???
Feb 6, 2007, 11:47 am
#50
Join Date: Jul 1999
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Posts: 3,148
well given how roomy MEA biz class is... they'd have to keep the same config to keep competitive.. so my guess it'll be just repaint the livery on the existing BMed fleet. saw one of them fly in over town today, was thinking how ironic yet more aircraft are losing the BA colours (first BACON now BMED).
with LH, TK flying here as well, we'll be the Star Alliance mileage runners' destination of choice really soon.
those of you wanting to fly out on the inaugural service.. let's plan something suitable, no visa required, plenty of great bars to celebrate in. cheers
with LH, TK flying here as well, we'll be the Star Alliance mileage runners' destination of choice really soon.
those of you wanting to fly out on the inaugural service.. let's plan something suitable, no visa required, plenty of great bars to celebrate in. cheers
Feb 6, 2007, 3:21 pm
#51
Join Date: Jul 2005
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so my guess it'll be just repaint the livery on the existing BMed fleet
Feb 7, 2007, 9:04 am
#52
Join Date: Feb 2007
Location: UK
Programs: QF WP & PG (OWE), BA Gold S/LH H/AF/Marriott Plt/ Hertz #1 Gold
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Bmi-BMED take over
I'm thrilled that I will have a second *A option to use out of BEY on a regular basis. I just hope and pray that they keep the roomy business class configuration and not decide to switch it into a "regional" business class (a la LH)... So when can I expect BMI planes to start landing here???
From what I hared Bmi will fly over the Jordanian skis to BEY with it’s new livery at the end of October they gona start 7-8 flights a week AMM-LHR and they gona take over the thirsty market of Jordan as the shares were 20 to 80 for RJ benefit (not for long now ) as for BEY its going to be 7 flights a week 2 of them might be shard with AMM I still don’t know any thing about KRT and THR but I heard from sm1 at BD that Bmi will be blooming in the middle east area esp. BEY and AMM .
Feb 7, 2007, 9:16 am
#53
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From what I hared Bmi will fly over the Jordanian skis to BEY with it’s new livery at the end of October they gona start 7-8 flights a week AMM-LHR and they gona take over the thirsty market of Jordan as the shares were 20 to 80 for RJ benefit (not for long now ) as for BEY its going to be 7 flights a week 2 of them might be shard with AMM I still don’t know any thing about KRT and THR but I heard from sm1 at BD that Bmi will be blooming in the middle east area esp. BEY and AMM .
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Feb 7, 2007, 9:22 am
#54
Join Date: Feb 2007
Location: UK
Programs: QF WP & PG (OWE), BA Gold S/LH H/AF/Marriott Plt/ Hertz #1 Gold
Posts: 79
Bmi-BMED take over
I'm thrilled that I will have a second *A option to use out of BEY on a regular basis. I just hope and pray that they keep the roomy business class configuration and not decide to switch it into a "regional" business class (a la LH)... So when can I expect BMI planes to start landing here???
From what I hared Bmi will fly over the Jordanian skis to BEY with it’s new livery at the end of October they gona start 7-8 flights a week AMM-LHR and they gona take over the thirsty market of Jordan as the shares were 20 to 80 for RJ benefit (not for long now ) as for BEY its going to be 7 flights a week 2 of them might be shard with AMM I still don’t know any thing about KRT and THR but I heard from sm1 at BD that Bmi will be blooming in the middle east area esp. BEY and AMM .
Feb 7, 2007, 9:30 am
#56
Join Date: Apr 2005
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Feb 8, 2007, 3:57 am
#58
Join Date: Feb 2007
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Feb 8, 2007, 4:23 am
#59
Join Date: Feb 2007
Location: UK
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Dear Colleague
We have today announced that the bmi group holding company British Midland plc has acquired control of the Heathrow-based airline British Mediterranean (BMED). Our holding company has subscribed to new shares in BMED which will effectively give bmi a 99 percent controlling stake in the airline. In due course we plan to buy out the remaining minority shareholders.
All existing non-executive directors of BMED have today resigned their positions and I have joined their board along with Sir Michael and Tim Bye. David Richardson, chief executive of BMED will retain his position and report directly to me.
We are extremely pleased with the arrangements we have been able to agree with the current board of BMED and the majority shareholders. We have been aware for some time of the opportunity that existed at BMED but have only recently been in a position to enter into a meaningful dialogue with them.
Bringing BMED into the bmi group offers tremendous opportunities for the growth and development of our businesses. It places BMED in our family of airlines where we have a significant presence and standing in a wide range of markets. We will be creating an operation with a turnover in excess of £1 billion a year. It also enables the bmi group to accelerate its strategy of expansion into the medium-haul markets of BMED. They operate to 17 destinations in 16 countries and there is no overlap with any of our own current routes. Many of the BMED destinations have restricted access to the market due to existing bi-lateral agreements that would have taken us a considerable amount of time to gain access to. There are also a number of clear business synergies between our two organisations. Like bmi, BMED is an established Heathrow-based carrier also operating Airbus A320 and A321 aircraft with IAE engines and, like our own medium-haul product, they have a two class cabin. Improved network opportunities will also exist through our respective Heathrow operations.
The opportunity for us to expand the bmi group in this way is yet again a clear vote of confidence by the shareholders and their commitment to grow our business. BMED is a first class airline whose staff have worked hard on developing an extensive route network and a reputation for delivering an excellent product and service. I look forward to working with them to rebuild their business after some difficult times over the past few months. We have already reached an agreement with British Airways that will see the franchise agreement and any other commercial agreements that exist with BMED continuing for a transitionary period until the end of the Summer 2007 timetable.
In the short term we plan for the business to continue to operate as it does today with no immediate changes to network or structure. A comprehensive review of the business will take place over the next 30 days. For those of you not too familiar with BMED here are some interesting facts about them:
• Formally known as British Mediterranean, BMED was established as a limited company in 1994 by a group of private investors
• BMED has operated as an independent franchise partner of British Airways since 1997
• BMED flies under the British Airways brand and utilises British Airways livery and flight codes. BA is the worldwide sales agent for BMED
• BMED has a fleet of three Airbus A320 and five Airbus A321 Aircraft
• The airline flies to 17 destinations in 16 countries throughout Africa, the Middle East and Central Asia and has 770 employees
We start the year off with more exciting news about the bmi group and I am sure you would wish to join me in giving BMED and their staff a warm welcome into the bmi group of airlines.
Kind regards
Nigel
We have today announced that the bmi group holding company British Midland plc has acquired control of the Heathrow-based airline British Mediterranean (BMED). Our holding company has subscribed to new shares in BMED which will effectively give bmi a 99 percent controlling stake in the airline. In due course we plan to buy out the remaining minority shareholders.
All existing non-executive directors of BMED have today resigned their positions and I have joined their board along with Sir Michael and Tim Bye. David Richardson, chief executive of BMED will retain his position and report directly to me.
We are extremely pleased with the arrangements we have been able to agree with the current board of BMED and the majority shareholders. We have been aware for some time of the opportunity that existed at BMED but have only recently been in a position to enter into a meaningful dialogue with them.
Bringing BMED into the bmi group offers tremendous opportunities for the growth and development of our businesses. It places BMED in our family of airlines where we have a significant presence and standing in a wide range of markets. We will be creating an operation with a turnover in excess of £1 billion a year. It also enables the bmi group to accelerate its strategy of expansion into the medium-haul markets of BMED. They operate to 17 destinations in 16 countries and there is no overlap with any of our own current routes. Many of the BMED destinations have restricted access to the market due to existing bi-lateral agreements that would have taken us a considerable amount of time to gain access to. There are also a number of clear business synergies between our two organisations. Like bmi, BMED is an established Heathrow-based carrier also operating Airbus A320 and A321 aircraft with IAE engines and, like our own medium-haul product, they have a two class cabin. Improved network opportunities will also exist through our respective Heathrow operations.
The opportunity for us to expand the bmi group in this way is yet again a clear vote of confidence by the shareholders and their commitment to grow our business. BMED is a first class airline whose staff have worked hard on developing an extensive route network and a reputation for delivering an excellent product and service. I look forward to working with them to rebuild their business after some difficult times over the past few months. We have already reached an agreement with British Airways that will see the franchise agreement and any other commercial agreements that exist with BMED continuing for a transitionary period until the end of the Summer 2007 timetable.
In the short term we plan for the business to continue to operate as it does today with no immediate changes to network or structure. A comprehensive review of the business will take place over the next 30 days. For those of you not too familiar with BMED here are some interesting facts about them:
• Formally known as British Mediterranean, BMED was established as a limited company in 1994 by a group of private investors
• BMED has operated as an independent franchise partner of British Airways since 1997
• BMED flies under the British Airways brand and utilises British Airways livery and flight codes. BA is the worldwide sales agent for BMED
• BMED has a fleet of three Airbus A320 and five Airbus A321 Aircraft
• The airline flies to 17 destinations in 16 countries throughout Africa, the Middle East and Central Asia and has 770 employees
We start the year off with more exciting news about the bmi group and I am sure you would wish to join me in giving BMED and their staff a warm welcome into the bmi group of airlines.
Kind regards
Nigel
And This is What Nigel have done now: The latest BMed press release ...
BMI Acquire BMED in £30 Million Deal
British Airways franchise partner, BMED, has been acquired by British Midland plc. In a deal worth £30 million, British Midland plc, the holding group for Heathrow’s second largest airline, bmi, assumed a 99% stake in BMED with plans to acquire the remaining 1%.
bmi's chairman Sir Michael Bishop, chief executive officer Nigel Turner and deputy chief executive officer Tim Bye have been appointed to the BMED board with immediate effect. BMED’s David Richardson will retain his position as chief executive reporting directly to Nigel Turner. All existing non-executive directors of BMED have resigned their positions.
The acquisition of BMED will enable bmi to accelerate its strategy of expansion into medium-haul markets. BMED currently operates to 17 destinations across the Middle East, Central Asia and Africa. With both airlines currently operating from London Heathrow with IAE engined Airbus A320 and A321 aircraft in a two class service the deal is also expected to deliver a number of synergy benefits.
David Richardson, chief executive officer for BMED, said:
“I am certain that being part of a larger airline will enable us to widen our horizons and develop in directions that have been difficult in the past. In many ways, bmi's history mirrors our own pioneering approach. I am sure that we will have the opportunity to develop and prosper with our new owners.”
For a transition period set to run until the end of the Summer 2007 timetable, BMED will continue to partner with British Airways, maintaining its existing franchise and commercial agreements.
Feb 8, 2007, 6:13 am
#60
Join Date: Jan 2005
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bmibmed , for your reference,
you don't need to quote a wholepost when you are refering to it, particularly if you're about to re-quote it your actual text.
You can just use the "Quick reply to this message" button to the bottom right of each post,
or use the "Post Reply" button to the bottom left of every page.
you don't need to quote a wholepost when you are refering to it, particularly if you're about to re-quote it your actual text.
You can just use the "Quick reply to this message" button to the bottom right of each post,
or use the "Post Reply" button to the bottom left of every page.