Merger and acquisition consultants to be needed for airline deal?
M&A consultants may be involved in brokering a deal for Virgin Atlantic to buy bmi.
Merger and acquisition consultants could be required to help broker a deal between two aviation companies in the near future.
This is because Virgin Atlantic announced in a statement to Reuters yesterday (September 13th) that it remains interested in taking over budget airline bmi.
Currently, bmi is owned by German aviation giant Lufthansa, but it is thought the continental firm would be willing to let this part of its business go for the right price.
And Virgin Atlantic - which experienced a pre-tax operating profit of £18.5 million in the 2010-11 financial year - has noted: "We continue to have a close interest in a combination with bmi."
It is thought that bmi represents an attractive investment option for Virgin due to the fact it currently controls around 11 per cent of the take-off and landing positions at London Heathrow.
This means only British Airways has a greater ownership of such slots at the world's second-busiest airport.
Posted by Ron Maverick