bmi enters Georgian Market

5 mins read

The FINANCIAL– bmi, the second largest airline operating at London’s Heathrow airport, has announced its takeover of Heathrow-based BA franchise airline British Mediterranean (BMED). bmi’s already impressive flight network will include 17 new destinations throughout Africa, the Middle East and Central Asia as from October 28th 2007.

 

With this purchase, bmi is now the sole British carrier operating flights between Georgia and the UK. The airline currently operates around 170 flights a day to and from its main Heathrow hub. bmi is also a member of Star Alliance, the world’s biggest airline alliance, providing passengers with global connections and a smooth travel experience.

British Midland plc, the UK-based group holding company of bmi, has subscribed to approximately £30 million of new shares in BMED. BMED, which was established as a limited company in 1994 and operated as an independent franchise partner of British Airways from 1997, currently has a fleet of three Airbus A320 and five Airbus A321 aircraft.

Speaking about the takeover, chief executive officer of the bmi group Nigel Turner said:  “Bringing BMED into the bmi group creates a business with a turnover in excess of £1 billion with substantial growth opportunities. The acquisition enables the bmi group to accelerate its strategy of expansion into medium-haul markets because BMED operates to 17 destinations in 16 countries and has no overlap with any current bmi route. BMED has a first class workforce and we welcome them into the bmi group.”

British Midland plc, the UK-based group holding company of bmi, has subscribed to approximately £30 million of new shares in BMED. BMED, which was established as a limited company in 1994 and operated as an independent franchise partner of British Airways from 1997, currently has a fleet of three Airbus A320 and five Airbus A321 aircraft.

See also  EBRD and partners explore digitalisation in green trade finance

Speaking about the takeover, chief executive officer of the bmi group Nigel Turner said:  “Bringing BMED into the bmi group creates a business with a turnover in excess of £1 billion with substantial growth opportunities. The acquisition enables the bmi group to accelerate its strategy of expansion into medium-haul markets because BMED operates to 17 destinations in 16 countries and has no overlap with any current bmi route. BMED has a first class workforce and we welcome them into the bmi group.”

 

British Midland plc, the UK-based group holding company of bmi, has subscribed to approximately £30 million of new shares in BMED. BMED, which was established as a limited company in 1994 and operated as an independent franchise partner of British Airways from 1997, currently has a fleet of three Airbus A320 and five Airbus A321 aircraft.

Speaking about the takeover, chief executive officer of the bmi group Nigel Turner said:  “Bringing BMED into the bmi group creates a business with a turnover in excess of £1 billion with substantial growth opportunities. The acquisition enables the bmi group to accelerate its strategy of expansion into medium-haul markets because BMED operates to 17 destinations in 16 countries and has no overlap with any current bmi route. BMED has a first class workforce and we welcome them into the bmi group.”

bmi country manager for Georgia, Mr. Zuri Shakarishvili, sees the new arrangement as highly positive for local and regional operations: “This marks a major development in air travel in Georgia. We are very proud to be working with bmi which has an exceptional reputation throughout the industry and we anticipate many positive developments in the future, both in the short and long term.”

See also  EBRD and partners explore digitalisation in green trade finance

Synergies between bmi and BMED include BMED’s Heathrow base and the fact that it operates IAE engined Airbus A320 and 321 aircraft in a two class configuration. Tickets for travel on the

Leave a Reply