IAG to sell bmi Regional

10th May 2012 11:28

International Consolidated Airlines Group (IAG) has signed a binding agreement to sell bmi Regional to Sector Aviation Holdings (SAH) for eight million pounds. The agreement includes the subsidiary's fixed assets, long-term debts, and owned and leased fleet. SAH is expected to become the owner within two weeks, subject to regulatory approval, the airline said.BMI Regional belongs to low-cost airline BMI, which IAG acquired from Lufthansa."This deal provides a future for bmi Regional and should secure around 330 jobs," said IAG Chief Executive Willie Walsh.By 15:04 in London, shares were trading 0.36% lower at 164.4p.MG