Lufthansa pare aver un accordo per la cessione di BMI a British Airways
- Autore Discussione DusCgn
- Data d'inizio
In pratica dopo 5 anni si riprendono non solo BMed (mai capito perchè l'avessero venduta) ma tutto il pacchetto BMI. Bel colpo per BA che in un solo colpo consolida la sua posizione in Africa (+3 destinazioni in concorrenza diretta con AF) apre, finalmente, verso delle destinazioni petrolifere in centro Asia/Caucaso e guadagna un altro po' di slot a LHR.
É tutto da vedere cosa ne pensa l'antitrust di questa fusione insieme ba e bmi avrebbero una decisa posizione dominante a lhr. Non la vedo affatto semplice.
L'acquisizione, se confermata, richiederebbe sicuramente un'investigazione approfondita dell'antitrust europea, data la concentrazione di slot che andrebbe in mano a BA.
Poi non sono del tutto convinto che BA manterrebbe il network attuale di bmi - credo punterebbe a consolidare la maggior parte delle operazioni feeder su LHR, lasciando a LGW cio' che ha senso sul p2p, ovvero i voli per le destinazioni leisure a medio e lungo raggio ed i voli domestici.
Poi non sono del tutto convinto che BA manterrebbe il network attuale di bmi - credo punterebbe a consolidare la maggior parte delle operazioni feeder su LHR, lasciando a LGW cio' che ha senso sul p2p, ovvero i voli per le destinazioni leisure a medio e lungo raggio ed i voli domestici.
BA avrebbe sempre percentuali inferiori di AF a CDG e LH a FRA, quindi io la vedo semplice
La penso come te, BA è da tempo che vorrebbe poter concentrare i feed su LHR per poter permettere con semplicità i transiti anche da aeroporti dove ora vola feed su LGW dovendo offrire tariffe scontate a fronte della connessione scomoda e lunga.
Poi magari qualche rotta interessante rimarrà... invece il marchio BMI direi che probabilmente verrà abolito.
Situazione settimana corrente capacità offerta (non si tratta di slots, ma posti, ma il risultato % è simile):
Londra LHR top 5 carrier:
BA 39,4%
VS 5,1%
BM 5,1%
LH 4,2%
EI 3,3%
Alleanza leader Oneworld 47,2%
Parigi CDG top 5 carrier:
AF 57,7%
U2 6,2%
LH 3,3%
AZ 1,5%
DL 1,5%
Alleanza leader SkyTeam 65,9%
Francoforte top 5 carrier:
LH 65,5%
DE 3,1%
AB 1,5%
UA 1,5%
SK 1,4%
Alleanza leader Star 79%
Londra LHR top 5 carrier:
BA 39,4%
VS 5,1%
BM 5,1%
LH 4,2%
EI 3,3%
Alleanza leader Oneworld 47,2%
Parigi CDG top 5 carrier:
AF 57,7%
U2 6,2%
LH 3,3%
AZ 1,5%
DL 1,5%
Alleanza leader SkyTeam 65,9%
Francoforte top 5 carrier:
LH 65,5%
DE 3,1%
AB 1,5%
UA 1,5%
SK 1,4%
Alleanza leader Star 79%
Quoto Greco. Peraltro, a differenza di FRA, il mercato londinese ha assai meno problemi di concorrenza: a parte il remoto Hahn, a Francoforte non c'è niente di paragonabile a Stansted, Luton, Gatwick e LCY. Un'opposizione dell'antitrust sarebbe politica.
Dipende. se chiedo nuovi slots a FRA o CDG me li danno o e' saturo? Se le percentuali sono determinate dalla normale domanda e offerta non c'e' problema antitrust, ma se un concorrente non ha accesso a un determinato bene o servizio invece si.
Teoricamente l'antitrust dovrebbe guardare all'effetto che un'acquisizione o una fusione possono avere sul prezzo di un bene al consumo, più che sulla possibilità di un ulteriore player di entrare nel mercato: la differenza non è enorme ma c'è, più concettuale che pratica, perché l'antitrust ha il compito di tutelare i consumatori, non le imprese (benché, in pratica, la libertà d'impresa e di concorrenza sia nell'interesse dei consumatori).
Vista da un punto di vista aziendale, l'acquisizione di BMI da parte di BA non cambierà molto (anzi, secondo me, non cambierà proprio) la facilità/difficoltà di accedere al mercato di LHR: gli slot sono già costosissimi e centellinati oggi. Potrebbe, semmai, cambiare la concorrenza sui prezzi al consumo ma, allo stato attuale delle cose, i network di BA e BMI essendo poco sovrapposti, è difficile ipotizzare conseguenze concrete sui prezzi. C'è già un solo vettore da LHR a molte destinazioni mediorientali, è BMI, dopo sarà BA. Il mercato, infatti, dal punto di vista del consumatore, non è tanto LHR, quanto ogni rotta LHR-XYZ: poche di queste combinazioni saranno influenzate dalle nozze BA-BMI (sarebbe ben altro discorso se il matrimonio fosse fra VS e BA).
Comunque la si voglia vedere, se oggi un europeo di Francoforte volesse andare a New York, Shanghai, Tokyo, Johannesburg, Firenze, Madrid o Teheran avrebbe le stesse alternative del consumatore londinese che volesse andare nelle medesime destinazioni oggi (prima dell'acquisizione) o domani (dopo l'acquisizione). Alla luce di ciò e del fatto che BA+BMI avrebbe comunque percentualmente meno slot da LHR di LH e AF dai rispettivi hub è legittimo aspettarsi un nulla osta (magari con piccole richieste) all'accordo.
A parte gli slots sara' interessante capire in che terminal verranno posizionati i voli ex-BMI, in quanto il T5 e' praticamente gia' al completo. Poiche' il nuovo T2 sara' riservato a *A, non resterebbe che espandere la finora abbastanza limitata presenza di BA al Terminal 3 (Australia e qualche destinazione europea).
Questa la dichiarazione di Steve Ridgway:
"Mr Ridgeway said it was difficult to see how regulators would pass any deal because there would be no competition on a number of routes from Heathrow. Virgin Atlantic is expected to launch its own bid for BMI following IAG’s £200m-£300m offer.
Mr Ridgeway will meet Lufthansa bosses on Thursday and is claiming that the battle to take over the carrier is very much still alive.
IAG announced on Friday that it has reached “agreement in principle” with the German airline to acquire BMI in a deal that would increase its share of Heathrow’s take-off and landing slots from 45pc to 53pc.
However, Mr Ridgway said in an interview with The Sunday Telegraph that Virgin Atlantic has been assured by Lufthansa that the sale process is far from sealed. "
More on http://www.telegraph.co.uk/finance/...gin-Atlantics-hat-in-the-ring-to-buy-BMI.html
"Mr Ridgeway said it was difficult to see how regulators would pass any deal because there would be no competition on a number of routes from Heathrow. Virgin Atlantic is expected to launch its own bid for BMI following IAG’s £200m-£300m offer.
Mr Ridgeway will meet Lufthansa bosses on Thursday and is claiming that the battle to take over the carrier is very much still alive.
IAG announced on Friday that it has reached “agreement in principle” with the German airline to acquire BMI in a deal that would increase its share of Heathrow’s take-off and landing slots from 45pc to 53pc.
However, Mr Ridgway said in an interview with The Sunday Telegraph that Virgin Atlantic has been assured by Lufthansa that the sale process is far from sealed. "
More on http://www.telegraph.co.uk/finance/...gin-Atlantics-hat-in-the-ring-to-buy-BMI.html
Agreement for bmi purchase - message from Keith Williams
IAG has informed the Stock Exchange today that it has reached agreement with Lufthansa to acquire bmi, subject to regulatory clearance.
Bringing bmi into the IAG group would be a great opportunity. It would strengthen Heathrow as a hub despite the absence of a third runway, open new market possibilities and enable us to compete more effectively with other global airline groups.
But it would also be a great challenge. Losses at bmi are substantial and deep-seated.
It is yet to be decided how bmi would be structured within the IAG group. My objective is for bmi to be integrated within British Airways’ operations. However, to achieve this, we must deliver cost and revenue reforms to our existing shorthaul business so that we can create a profitable integrated business.
We hope the regulatory process can be concluded within the next few months. Until we receive regulatory approval, this deal is not completed and bmi remains an independent competitor of British Airways and should be treated as such.
I am confident that if this acquisition goes ahead, it will enhance our group’s business plan, our drive for competitiveness, our plans for growth and our focus on customers.
This is an important development for our group, but we must not allow ourselves to be distracted. Everyone has done a great job in keeping our own business going during the current difficult times. We must continue to keep that focus.
fonte BA
IAG has informed the Stock Exchange today that it has reached agreement with Lufthansa to acquire bmi, subject to regulatory clearance.
Bringing bmi into the IAG group would be a great opportunity. It would strengthen Heathrow as a hub despite the absence of a third runway, open new market possibilities and enable us to compete more effectively with other global airline groups.
But it would also be a great challenge. Losses at bmi are substantial and deep-seated.
It is yet to be decided how bmi would be structured within the IAG group. My objective is for bmi to be integrated within British Airways’ operations. However, to achieve this, we must deliver cost and revenue reforms to our existing shorthaul business so that we can create a profitable integrated business.
We hope the regulatory process can be concluded within the next few months. Until we receive regulatory approval, this deal is not completed and bmi remains an independent competitor of British Airways and should be treated as such.
I am confident that if this acquisition goes ahead, it will enhance our group’s business plan, our drive for competitiveness, our plans for growth and our focus on customers.
This is an important development for our group, but we must not allow ourselves to be distracted. Everyone has done a great job in keeping our own business going during the current difficult times. We must continue to keep that focus.
fonte BA
Anche LH conferma:
22.12.11
Sale provides sustainable future prospects for bmi / Lufthansa to benefit from stronger financial position
Following the announcement on November 4, 2011, Deutsche Lufthansa AG (Lufthansa) and International Airlines Group (IAG) have signed a binding agreement for the sale of British Midland Limited (bmi) to IAG. The price is GBP 172.5 million (approx. EUR 207 million) in cash for bmi. The price is subject to certain reductions. Both parties aim for a closing of the transaction by the end of the first quarter 2012.
After signing the agreement, Christoph Franz, CEO and Chairman of the Executive Board of Deutsche Lufthansa AG, stated, “bmi’s employees and management team have shown great motivation and unfailing commitment in dealing with the financial challenges of the past years. For this I owe them my thanks and appreciation. It was therefore especially important for us to find the solution that best provides the company and its employees with sustainable prospects for the future. This has been achieved through the sale of bmi to IAG. And as part of Lufthansa’s strategic development the sale means that our customers, shareholders and employees will benefit from a sharpened corporate profile and a stronger financial position of the Group. Both of these are necessary elements to enable sustainable, profitable growth.”
Transaction highlights:
Sale of bmi for a gross purchase price of GBP 172.5 million (approx. EUR 207 million), subject to certain reductions
Net of total potential reductions, the net purchase price expected to be clearly negative; however, the transaction is expected to have amortized for Lufthansa after around one year
As part of the agreement, a British holding company of Lufthansa, is to take on bmi’s defined benefit pension scheme
Deal remains subject in particular to competition clearance
bmi will be accounted for as “asset held for sale / discontinued operations” for Financial Year 2011
Closing of the transaction is aimed for the first quarter of 2012
Transaction offers sustainable future prospects for bmi
Lufthansa aligns airline portfolio to strategic fit and benefits from stronger earnings position
http://presse.lufthansa.com/en/news-releases/singleview/archive/2011/december/22/article/2054.html
22.12.11
Sale provides sustainable future prospects for bmi / Lufthansa to benefit from stronger financial position
Following the announcement on November 4, 2011, Deutsche Lufthansa AG (Lufthansa) and International Airlines Group (IAG) have signed a binding agreement for the sale of British Midland Limited (bmi) to IAG. The price is GBP 172.5 million (approx. EUR 207 million) in cash for bmi. The price is subject to certain reductions. Both parties aim for a closing of the transaction by the end of the first quarter 2012.
After signing the agreement, Christoph Franz, CEO and Chairman of the Executive Board of Deutsche Lufthansa AG, stated, “bmi’s employees and management team have shown great motivation and unfailing commitment in dealing with the financial challenges of the past years. For this I owe them my thanks and appreciation. It was therefore especially important for us to find the solution that best provides the company and its employees with sustainable prospects for the future. This has been achieved through the sale of bmi to IAG. And as part of Lufthansa’s strategic development the sale means that our customers, shareholders and employees will benefit from a sharpened corporate profile and a stronger financial position of the Group. Both of these are necessary elements to enable sustainable, profitable growth.”
Transaction highlights:
Sale of bmi for a gross purchase price of GBP 172.5 million (approx. EUR 207 million), subject to certain reductions
Net of total potential reductions, the net purchase price expected to be clearly negative; however, the transaction is expected to have amortized for Lufthansa after around one year
As part of the agreement, a British holding company of Lufthansa, is to take on bmi’s defined benefit pension scheme
Deal remains subject in particular to competition clearance
bmi will be accounted for as “asset held for sale / discontinued operations” for Financial Year 2011
Closing of the transaction is aimed for the first quarter of 2012
Transaction offers sustainable future prospects for bmi
Lufthansa aligns airline portfolio to strategic fit and benefits from stronger earnings position
http://presse.lufthansa.com/en/news-releases/singleview/archive/2011/december/22/article/2054.html