Strategic options development:
For a major European travel company, we undertook a review of strategic options available for its airline operations, including identifying business opportunities in the context of the changing environment in the tour operating industry and increasing LCC competition; evaluating issues and providing implementation support.
Expansion strategy evaluation:
On behalf of the CEO of a European Low Cost Carrier that was reviewing its expansion strategy we evaluated potential options for consideration. This involved identification of new business and market opportunities that the carrier could undertake on its own, potential commercial partnerships with other carriers and potential changes to the airline’s business model. We worked together with the CEO to develop options and prepared propositions for discussions with potential partners.
Strategic acquisition evaluation:
For a European airline looking to make a trade acquisition, we assisted in the evaluation of SAS as a potential target. Using public information, we provided insights based on the assessment of the financial consequences of applying the acquirer’s business model to SAS, developed a post-acquisition strategy for consideration, and supported negotiations between the parties.
Finnair strategic options development:
Brought in to advise the senior management and board of Finnair on their strategic options and to make an assessment of the airline’s competitive position in the context of the wider market.
AviAlliance (Hochtief) / Budapest Airport privatisation:
Strategic industry advisor to Hochtief AirPort on the original bid to purchase Budapest Airport which involved the facilitation of Malev’s entry into the oneworld global alliance.
GB Airways strategic option development:
Retained by GB Airways to develop strategic options for consideration in the context of the future termination of its franchise licence agreement with BA; developed 3-year business plans to evaluate the impact of the options on the business and the implications for the owners; and provided the competitor and market analysis that underpinned the strategic option selection and addressed the valuation issues, leading to the preferred option of a potential joint venture around a new business model for Gatwick.
Strategic acquisition options:
For an international airline looking to make acquisitions to support its expansion plans, we assisted in the evaluation of several options involving the potential acquisition of foreign airlines. We developed options and supporting business cases for consideration that took into account the business rationale for the potential transactions as well as the regulatory constraints and requirements.
Lufthansa options on bmi:
Advised Lufthansa on issues around the acquisition of bmi, including the valuation of the bmi slot portfolio. Subsequently, ongoing advice on bmi slot valuation.