Labour support for BMI rescue bid

Labour’s East Midlands MEP is supporting the rescue bid proposed by IAG, the owner of British Airways, for BMI, and has written to the European Commission, who are presently considering the proposal.

Glenis Willmott said: “As the Labour MEP representing the East Midlands constituency, I am keen to see a solution to the problems at BMI which protects as many jobs as possible. BMI employs around 2,500 employees in the UK. This includes some 1,000 in the East Midlands, principally at the BMI headquarters at Donington Hall and at East Midlands Airport.

“I appreciate the Commission’s need to scrutinise the takeover bid from the competition perspective, in particular as regards BMI’s take-off and landing slots at Heathrow. Nevertheless, having cost its parent company Lufthansa a reported €285 million in 2011, leading Lufthansa to report a loss for the year, BMI seems to be increasingly unsustainable under its current ownership.

“I fear the alternative to IAG’s takeover bid would be an acceleration of the sustained contraction and loss of employment that we have seen at BMI over the last few years, or even potentially a complete collapse of the company.
“I have stressed to the Commission that, at a time of high unemployment in the UK and across the European Union, both the UK Government and the European Commission must do everything in their power to promote ways of creating and protecting sustainable employment.

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