British Airways has decided to retain full ownership of its OpenSkies subsidiary, turning down five offers from US and European private equity firms, according to a report in the Wall Street Journal. Financial details of the bids were not disclosed.
The review of OpenSkies was conducted as part of a broader strategic review by British Airways. OpenSkies plans to announce details of its proposed second route in a month (Amsterdam-New York service was suspended in Jul-2009). The carrier's load factors are currently averaging 74%, up from 70% in Aug-2009.
British Airways’ shares rose 1.1% yesterday, while Lufthansa added 0.4% and Air France-KLM added 0.3%.
Europe selected airlines daily share price movements (% change): 10-Dec-09
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.