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British Airways to retain OpenSkies

11-Dec-2009 12:47 PM

British Airways has decided to retain full ownership of its OpenSkies subsidiary, turning down five offers from US and European private equity firms (Wall Street Journal, 11-Dec-2009). 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.