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